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Newcrest Mining Limited – Quarterly Exploration Report – 31 December 2022

Q2 results strengthen growth potential across expanding exploration portfolioAt Brucejack, drilling continues to enhance the resource growth potential…

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Q2 results strengthen growth potential across expanding exploration portfolio

At Brucejack, drilling continues to enhance the resource growth potential at the Valley of the Kings (VOK) deposit and the surrounding area, with intercepts expanding the strike extent at the 1080 HBx Zone and demonstrating continuity at Golden Marmot which are located outside the current Pretium published resource.

  • At 1080 HBx Zone, drilling to expand the VOK deposit continues to confirm the continuity of higher grade mineralisation at depth and to the south, with 6 of 20 holes returning intervals in excess of 5 grams per tonne gold. Mineralisation now extends over 145m of strike length and remains open. Results include, VU-4624, 10.5m @ 917g/t Au from 235.5m, including 1m @ 9,618g/t Au from 244m, which is the highest grade returned from the 1080 Hbx Zone to date. In addition, VU-4626 returned 11m @ 269g/t Au from 173.5m, including 1m @ 2,954g/t Au from 174.5m.

  • At Golden Marmot, located ~3.5km north of the VOK, assays were received for a further 22 holes. Holes were drilled to infill the main zone demonstrating continuity of the higher grade over an area 100m wide, 200m long, and 300m high with 5 of 22 holes returning intervals in excess of 5 grams per tonne gold. Results include, SU-893, 18m @ 12g/t Au from 211.5m, including 1m @ 184g/t Au from 227m. In addition, SU-899 returned 1m @ 8,000g/t Au from 164.67m, which is the highest grade returned from Golden Marmot to date.

At Red Chris, drilling at East Ridge continues to confirm continuity and expand the footprint of higher grade mineralisation and strengthen the potential for resource growth.

  • At East Ridge, drilling continues to expand the vertical extent of the mineralisation within the Exploration Target area previously reported on 21 July 2022. Drilling has returned the deepest significant higher grade intercept at the project to date with RC857 intersecting 266m @ 0.43g/t Au & 0.57% Cu from 1,534m, including 34m @ 1.1g/t Au & 1.6% Cu from 1,706m. These results have extended the higher grade mineralisation, which remains open at depth, by a further 100m to a depth of more than 700m vertical.

At Havieron, drilling continues to reinforce the potential for incremental resource growth with higher grade extensions to the mineralisation in the Northern Breccia and the Eastern Breccia.

  • In the Eastern Breccia, results outside the current Mineral Resource are HAD134, 82m @ 2.1g/t Au & 0.25% Cu from 1,508m, including 30m @ 2.4g/t Au & 0.19% Cu from 1,540m, HAD163, 86m @ 1.2g/t Au & 0.04% Cu from 1,415m, including 26m @ 1.9g/t Au & 0.09% Cu from 1,452m and HAD167, 78m @ 1.9g/t Au & 0.19% Cu from 1,516m.

  • At the Northern Breccia, drill results include HAD098W7, 84m @ 3.2g/t Au & 0.14% Cu from 1,008m. Drilling is ongoing to define the extents of higher-grade zones of mineralisation.

At the new Spring Peak low sulfidation epithermal project in Nevada, initial exploration drilling has confirmed the presence of higher grade mineralisation in the Disco Zone with SP22-013 returning 34.72m @ 2.7g/t Au from 256.12m, including 2.01m @ 10g/t Au from 262.46m, 2.38m @ 16g/t Au from 275.26m and including 0.34m @ 70g/t Au from 275.96m. Mineralisation on the Disco Zone structure remains open at depth and along strike.

Melbourne, Australia–(Newsfile Corp. – January 24, 2023) – Newcrest (ASX: NCM) (TSX: NCM) (PNGX: NCM) Interim Chief Executive Officer, Sherry Duhe, said, “We are delighted by our ongoing exploration success at Brucejack, Red Chris and Havieron, with the latest set of drilling results continuing to support the potential for significant resource growth across each of these key projects. At Brucejack, we delivered some outstanding results with mineralisation remaining open across the Valley of the Kings deposit and Golden Marmot area, further supporting this exciting opportunity which is being aggressively pursued by our exploration team.

“Positive initial results at the Spring Peak Project in Nevada indicate further growth potential and we were also very pleased to add the Mount Coolon project into our pipeline during the quarter, further enhancing our impressive global exploration portfolio,” said Ms Duhe.

Brucejack, British Columbia, Canada(1)

The Brucejack Property hosts the Valley of the Kings (VOK) high-grade gold deposit. The VOK is characterised by multiple occurrences of higher grade mineralisation over selected intervals hosted within broader zones of stockwork and vein arrays. Growth activities are focused on both resource expansion within the existing mine area, as well as brownfields exploration activities within 4km of the mine area.

Resource expansion drilling during the quarter was focused on targets in the 1080 HBx Zone and Bridge Zone North. A total of 7,665m in 33 drill holes was completed using 2 underground diamond drill rigs. Assay results were received for three drill fans in the 1080 HBx Zone. Assay results were also received from a further 22 drill holes at Golden Marmot, which was part of the surface brownfields diamond drilling completed last quarter. All other assays are pending.

At 1080 HBx Zone, assays were received for 20 drill holes (three drill fans). 16 drill holes intersected gold mineralisation, with 6 of the 20 drill holes intersecting higher grade mineralisation, in excess of 5 grams per tonne, including the highest grade intersection returned to date. Drill holes at 1080 HBx are collared within the current Pretium published resource for the initial 90 to 135 meters, depending on the orientation of the drill hole, and only results outside the resource are reported. The drill program was designed to follow up on the extensions of the high-grade gold mineralisation intersected in the 1080 East drill program (previously reported).

Results demonstrate the continuity of higher grade gold mineralisation hosted in the HBx Domain, sub-parallel to Domain 20, which is currently being mined in the VOK. Drill fans were spaced at 15 meters horizontally in order to rapidly advance this new zone. Assays received to date cover an area of 105m x 300m x 250m, and the HBx Domain has now been defined over a strike length of 145m. Drilling is currently in progress to test the HBx Domain further along strike.

Results for the reporting period include:

  • VU-4624
    • 10.5m @ 917g/t Au from 235.5m
    • including 1m @ 9,618g/t Au from 244m
  • VU-4626
    • 11m @ 269g/t Au from 173.5m
    • including 1m @ 2,954g/t Au from 174.5m

At Golden Marmot, assays were received for 22 drill holes. 11 drill holes intersected gold mineralisation, with 5 of 22 drill holes intersecting higher grade gold mineralisation, in excess of 5 grams per tonne, and include the highest grade returned to date.

The focus for the calendar year 2022 drill program at Golden Marmot was to infill the main zone identified in 2021 and began to step out from known mineralisation. Results to date have confirmed the presence of gold mineralisation within the main zone with dimensions of 100m wide, 200m long, and 300m high. Mineralisation encountered at Golden Marmot displays many of the salient geological features that characterise hanging wall domains in the VOK deposit immediately to the south. Future exploration drilling will focus on continuing to test the extent of the mineralisation which remains open to the south and at depth.

Results for the reporting period include:

  • SU-893
    • 18m @ 12g/t Au from 211.5m
    • including 1m @ 184g/t Au from 227m
  • SU-896
    • 1.5m @ 113g/t Au from 141m
    • 9m @ 10g/t Au from 160.5m
  • SU-899
    • 1m @ 8,000g/t Au from 164.67m
  • SU-903
    • 1m @ 1,740g/t Au from 414m

Approximately 54,000m of resource expansion drilling and 35,000m of brownfield exploration drilling targeting mineralisation definition and continuity are planned during calendar year 2023 with three drill rigs operating underground and four drill rigs operating on surface during the summer months.

Refer to Appendix 1 for additional information, and the drill hole data table for all results reported during the period.

Figure 1. Plan view map of the Brucejack Property, spanning the 4km gossanous trend from Golden Marmot and Hanging Glacier in the northwest to Bridge Zone in the southeast.

To view an enhanced version of Figure 1, please visit:
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Figure 2. Long section view (looking west) of the Brucejack Property. Refer to figure 1 for the location of the cross section. Viewing window is +/- 150 meters.

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Figure 3. Plan view of the 1080 Level in the VOK, showing Domain 13, Domain 20, and the newly defined HBX Domain. The previously published Pretium resource is outlined in red.

To view an enhanced version of Figure 3, please visit:
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Red Chris, British Columbia, Canada(2)

Red Chris is a joint venture between Newcrest (70%) and Imperial Metals Corporation (30%) and is operated by Newcrest.

The Brownfield Exploration program is focused on the discovery of additional zones of higher-grade mineralisation within the Red Chris porphyry corridor, including targets outside of Newcrest’s Mineral Resource estimate. During the quarter, there were up to seven diamond drill rigs in operation. A further 13,854m of drilling has been completed during the quarter from 18 drill holes, with all drill holes intersecting mineralisation. This contributed to a total of 300,154m of drilling from 291 drill holes since Newcrest acquired its interest in the joint venture in August 2019.

At East Ridge, located adjacent to the East Zone, drilling is ongoing with 71 holes completed and 5 in progress. Assays were received from 12 holes during the quarter. The follow up drilling is being completed on a nominal 100m x 100m grid to determine the footprint, characterise the mineralisation and to demonstrate the extent of continuity of the higher-grade mineralisation. Drilling to date has tested a corridor 900m long, 250m wide and to a vertical extent of 1,000m where zones of higher grade mineralisation have been identified.

East Ridge is outside of Newcrest’s Mineral Resource estimate. Diamond drilling continues to define the extent and continuity of this higher grade mineralisation. A further 25 diamond drill holes at minimum are planned to test and close out the target mineralisation. This program is expected to be completed by the second quarter of calendar year 2023.

Results for the reporting period include:

  • RC843
    • 202m @ 0.47g/t Au & 0.64% Cu from 810m
    • including 78m @ 0.83g/t Au & 1.0% Cu from 864m
    • including 32m @ 1.2g/t Au & 1.3% Cu from 908m
  • RC848
    • 248m @ 0.33g/t Au & 0.46% Cu from 1,320m
    • including 52m @ 0.84g/t Au & 0.82% Cu from 1,492m
    • including 34m @ 1.0g/t Au & 0.86% Cu from 1,510m
  • RC857
    • 266m @ 0.43g/t Au & 0.57% Cu from 1,534m
    • including 56m @ 0.83g/t Au & 1.2% Cu from 1,694m
    • including 34m @ 1.1g/t Au & 1.6% Cu from 1,706m

Drilling continues to expand the vertical extent of the East Ridge mineralisation. The latest drilling results from holes RC848 and RC857 extend the higher grade mineralisation by a further 100m at depth to more than 700m vertical. The result from RC857 is the deepest significant higher grade intercept at the project to date. All holes remain open at depth.

These results demonstrate further support of the upside range of the Exploration Target defined in the June 2022 Quarterly Exploration Report dated 21 July 2022. The Exploration Target potential quantity and grade is conceptual in nature, there has been insufficient exploration to estimate a Mineral Resource and it is uncertain if further exploration will result in the estimation of a Mineral Resource.

Drilling within the Exploration Target area also continues to define the continuity of the higher grade mineralisation in hole RC843, located 100m west of RC808 (previously reported) and 700m below surface, making it one of the shallowest significant higher grade intercepts at East Ridge.

The East Ridge mineralised corridor contains higher grade (>0.8g/t Au and >0.8% Cu) in several smaller pods over an area 700m high, 400m long and 125m wide. Drilling to test the eastern extent of the mineralised corridor has returned some lower grades and intervals of unmineralised porphyry in several holes including RC851, RC854 and RC855 with follow up in progress.

Approximately 35,000m of growth-related drilling targeting mineralisation definition and continuity is planned for the second half of FY23 from four drill rigs.

Refer to Appendix 2 for additional information, and the drill hole data table for all results reported during the period.

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Figure 4. Schematic plan view map of the Red Chris porphyry corridor spanning East Ridge, East Zone, Main Zone and Gully Zone showing significant Newcrest intercepts (drill intercepts have been reported in Appendix 2 of this report), 0.3g/t Au, 1g/t Au, 0.3% Cu and 1% Cu shell projections generated from a LeapfrogTM model.

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Figure 5. Long section view (looking North West) of the Red Chris porphyry corridor showing drill hole locations, gold distribution and Exploration Target (previously released).

To view an enhanced version of Figure 5, please visit:
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Havieron Project, Western Australia, Australia(3)

The Havieron Project is operated by Newcrest under a Joint Venture Agreement (JVA) with Greatland Gold Plc (Greatland). Newcrest is the manager and holds a 70% interest in the Havieron Project (Greatland holds a 30% interest). The JVA includes tolling principles reflecting the intention of the parties that, subject to a successful exploration program, Feasibility Study and a positive decision to mine, the resulting joint venture mineralised material will be processed at Telfer.

The Havieron Project is centred on a deep magnetic anomaly located 45km east of Telfer in the Paterson Province. The deposit is overlain by more than 420m of post mineral Permian cover. The Joint Venture commenced drilling during the June 2019 quarter and has completed 288,664m of drilling from 327 drill holes to date (excluding holes in progress, abandoned holes, or drill holes which have not been sampled).

Drilling activities in the quarter have produced a further 19,079m of drilling from 22 holes with up to 6 drill rigs operating during the quarter. This includes 4 infill drillholes within the current Eastern Breccia Inferred Resource which are not included in this report and 6 abandoned holes which failed to reach target depth. New assay results are reported from 12 drill holes (8 were assays pending from the previous quarter). Of the reported holes, 7 holes returned significant assay intercepts in excess of 50 gram metres gold (Au ppm x length m). Further infill drilling has commenced to support ongoing resource assessment of the lower South East Crescent zone.

Growth drilling targeting mineralisation definition and continuity continues to show potential for resource additions outside of the existing Indicated and Inferred Mineral Resource limits, including:

  • Extensions of the Eastern Breccia incorporating definition of identified internal higher grade zones – assay results reported for 7 drill holes, 2 holes awaiting assays.
  • Extensions to the Northern Breccia at depth between the current Northern Breccia Resource and Eastern Breccia Resource – assay results reported for 2 drill holes, 4 holes awaiting assays.
  • Drilling to assess geophysical targets outside of the main Havieron system – 3 drill hole results reported and 2 holes awaiting assays from step-out drilling to the northwest and southeast of the Havieron system.

The Eastern Breccia is developed below the 4,100RL with a footprint of over 500m in strike, up to 200m in width, and over 250m in vertical extent. Within this zone, multiple northwest trending internal higher-grade (>1 g/t Au) sulphide dominated domains are observed. The Eastern Breccia remains open at depth and to the northwest and southeast.

Results include:

  • HAD134
    • 82m @ 2.1g/t Au & 0.25% Cu from 1,508m
    • including 30m @ 2.4g/t Au & 0.19% Cu from 1,540m
  • HAD152W4
    • 86m @ 0.88g/t Au & 0.05% Cu from 2,056m
    • 10m @ 4.0g/t Au & 0.04% Cu from 2,120m
  • HAD152W5
    • 62m @ 0.92g/t Au & 0.40% Cu from 1,607m
  • HAD163
    • 86m @ 1.2g/t Au & 0.04% Cu from 1,415m
    • including 26m @ 1.9g/t Au & 0.09% Cu from 1,452m
  • HAD163W1
    • 171.1m @ 0.68g/t Au & 0.04% Cu from 1,458m.
    • including 32m @ 1.5g/t Au & 0.09% Cu from 1,492m
  • HAD167
    • 78m @ 1.9g/t Au & 0.19% Cu from 1,516m

At the Northern Breccia results include:

  • HAD098W7
    • 84m @ 3.2g/t Au & 0.14% Cu from 1,008m

Drilling to test geophysical targets outside of the known Havieron mineralised system, including evaluating the Havieron dolerite at multiple intervals north and south of the Havieron mineralised envelope, revealed no significant intercepts from three drill holes (HAD165, MEC001 and NOR002). Two additional holes are awaiting assays.

The initial campaign of growth programs, in the March 2023 quarter, will progress assessment of growth targets, and ongoing resource infill of the lower South East Crescent zone, with drill programs reducing to three drill rigs over the Western Australian wet season.

Refer to Appendix 3 for additional information and drill hole data table for all results reported during the period.

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Figure 6. 3D Plan view schematic showing the spatial association of the South East Crescent, Northern Breccia, North West Pod and Eastern Breccia in relation to the current exploration growth target areas and the Mineral Resource extents. Also highlighted are selected previously reported^^ and new (highlighted in yellow – refer to Figure 6) intercepts >100 gram metres (Au ppm x length) that have been intersected outside of the Inferred Mineral Resource. Intercepts are projected to the 4600RL.

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Figure 7. 3D oblique view of the Havieron system viewed from the south-east, showing the position of high-grade intercepts (previously^^ reported and new (highlighted in yellow – refer to Figure 7)) and mineralised zones >100 gram metres (Au ppm x length) that have been intersected outside of the Mineral Resource extents. Further higher-grade mineralisation and assay results continue to support incremental expansion of the Northern Breccia and Southeast Crescent, as well as extensions to the Eastern Breccia (refer to Figure 5 for spatial relationship of drill holes and zones).

To view an enhanced version of Figure 7, please visit:
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Figure 8. Plan view schematic of a horizontal slice at 3900mRL through the Crescent Sulphide Zone and Breccia-hosted Zones, showing the extents of the 0.5 and 1.0 g/t Au LeapfrogTM grade shells with highlighted newly reported intercepts for this period. This diagram highlights >50 gram metres intersections drilled during the period, refer to inset diagram for relationship to all Havieron drilling.

To view an enhanced version of Figure 8, please visit:
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Western USA

Spring Peak Project, Nevada

In August 2022, Newcrest entered into four separate definitive option and earn-in agreements with Headwater Gold Inc. (Headwater Gold) and purchased a 9.9% equity interest in the company (previously reported). Newcrest has the option to acquire up to a 75% interest individually in each of the Agate Point, Midas North and Spring Peak Projects in Nevada and the Mahogany Project in Oregon.

The Spring Peak project is located approximately 35km southwest of Hawthorn, Nevada in the Aurora mining district. During the quarter Headwater Gold completed an RC and diamond drilling program at Spring Peak designed to follow up results from their 2021 exploration program and continued target definition work including mapping on other targets. A total of 3,170m was drilled in 10 holes across the project area including both RC pre-collar with diamond tails and three RC only holes. All holes encountered epithermal veining and alteration with the thickest intercepts located in four drill holes completed on a single section at the Disco Zone offsetting the intersection previously reported by Headwater (on 22 November 2021) in RC drill hole SP21-03 which returned 38.1m @ 1g/t Au. One RC pre-collar was drilled off section but was not completed with a diamond tail due to the arrival of winter weather conditions.

Assay results have been returned for the diamond tail for SP22-13 with all other assay results from the project pending.

Results include:

  • SP22-013
    • 34.72m @ 2.7g/t Au from 256.12m
    • including 2.01m @ 10g/t Au from 262.46m
    • including 2.38m @ 16g/t Au from 275.26m
    • and including 0.34m @ 70g/t Au from 275.96m

SP22-13 is the deepest and highest grade intercept reported to date at Spring Peak. The mineralised structure is drill constrained to this section only and remains open at depth and along strike. A follow up drill program is being planned for the upcoming field season.

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Figure 9. Plan view of the Spring Peak project illustrating the location of drill hole SP22-13, previous drilling, and the drill constrained cross section. Coordinates are NAD83 UTM Zone 11 north.

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Figure 10. Geological and geophysical cross section of the Disco Zone with drill results from SP22-13 and SP21-07, the structure is open both down dip and along strike. A drill program to further test the zone is currently being planned. Section view is to the southwest.

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Appaloosa Project, Nevada

In September 2022, Newcrest entered into an option and earn-in agreement (previously reported) with Gunpoint Exploration Ltd. (Gunpoint) to acquire up to 75% of the Appaloosa property located in Nevada, USA (with an option to acquire the remaining 25% of Appaloosa post the earn-in period). Appaloosa is an underexplored mineralised structural zone situated within Gunpoint’s Talapoosa gold-silver project. Newcrest is currently performing target definition work including mapping, geophysics and rock chip and channel sampling with assay results pending. In January 2023, Newcrest provided notice to Gunpoint to enter into the Option Phase of the option and earn-in agreement at Appaloosa.

Australia

Wilki Project, Western Australia

The Wilki Project is an exploration farm-in and joint venture with Antipa Minerals Limited (Antipa). The project area covers a strategic landholding of ~2,200km2 surrounding the Telfer operation and is adjacent to the Havieron Project. Newcrest entered into this exploration farm-in and joint venture agreement with Antipa in March 2020. Newcrest currently also has a 9.9% shareholding in Antipa.

As previously highlighted, Newcrest has elected to proceed to the next stage (Stage 1) of the farm-in agreement following completion of the initial exploration expenditure commitment (A$6 million). Newcrest has the potential to earn a 51% joint venture interest in the Wilki Project through expenditure of a further A$10 million by March 2025 during Stage 1. As of 1 July 2022, Newcrest is the manager and operator of the Wilki Project.

Field activities were suspended for the summer period and will resume in the first half of calendar year 2023, with planned soil sampling and follow up drilling to be completed, subject to successful attainment of heritage clearances.

Juri Joint Venture, Western Australia

The Juri Joint Venture is a farm-in and joint venture agreement with Greatland with respect to the Black Hills and Paterson Range East projects, located within the Paterson Province approximately 50km from the Telfer operation and in proximity to the Havieron Project. The joint venture covers an area of approximately 248km2. Newcrest currently has a 51% interest in the Juri Joint Venture, and the Joint Venture is currently managed by Greatland. Under the terms of the agreement, Newcrest has the potential to earn an additional 24% joint venture interest through expenditure of a further A$17 million by October 2024.

Drill programs completed at A9 and Tama in the September 2022 quarter returned no significant new results. Target generation and project review activities are underway during seasonal suspension of field programs.

Mount Coolon Project, Queensland

In October 2022, Newcrest entered into a farm-in agreement with GBM Resources Ltd (GBM) in relation to the Mount Coolon Project to advance gold exploration in the Drummond Basin in Queensland. The agreement provides the potential for Newcrest to acquire up to a 75% interest in the Mount Coolon Project tenements by spending A$25M and completing a series of exploration milestones in a 3 stage farm-in over six years.

Newcrest considers the Drummond Basin to be highly prospective for discovery of new higher grade gold resources related to known epithermal gold deposits within the Mount Coolon Project area. The project is undergoing establishment activities and initial targeting has identified a number of high priority targets below and along strike to previously identified gold-bearing low-sulphidation epithermal veining. On ground activities are expected to commence in the first half of calendar year 2023.

Northern Andes

Gamora Project, Ecuador

Planning is in progress for the second phase of scout drilling at the Gamora Project, located in southeast Ecuador. This work is being conducted by Newcrest as the operator under an earn-in agreement with Lundin Gold Inc. (Lundin Gold) pursuant to which Newcrest can earn up to a 50% interest in eight exploration concessions. The concession area covers strategic landholdings to the north and south of Lundin Gold’s Fruta del Norte mining operation. The next phase of drilling at Gamora will focus on testing priority copper-gold porphyry targets starting in the March 2023 quarter.

Appendix 1

Brucejack (100% Newcrest): JORC Table 1
Section 1: Sampling Techniques and Data

Criteria Commentary
Sampling techniques Core samples are obtained from core drilling. HQ diameter diamond core was drilled on a 3m run. Whole core was sampled at 1.5m intervals except where visible gold was identified, in which case the sample length was shortened to 1.0 or 0.5m.
Drilling techniques Core drilling was advanced with HQ diameter coring configuration.

Core from select inclined drill holes are oriented on 3m runs using an electronic core orientation tool (Reflex ACTIII). At the end of each run, the bottom of hole position is marked by the driller, which is later transferred to the whole drill core run length with a bottom of hole reference line.

Drill sample recovery Core recovery is systematically recorded from the commencement of coring to end of hole, by reconciling against driller’s depth blocks in each core tray with data recorded in the database. Drillers depth blocks provided the depth, interval of core recovered, and interval of core drilled.

Core recoveries were typically 100%, with isolated zones of lower recovery.

Logging Geological logging recorded qualitative descriptions of lithology, alteration, mineralisation, veining, and structure (for all core drilled – 7,665m).

Geotechnical measurements were recorded including Rock Quality Designation (RQD) fracture frequency, solid core recovery and qualitative rock strength measurements.

All geological and geotechnical logging was conducted at the Brucejack Mine.

Digital data logging was captured, validated and stored in an Acquire database. The Acquire database replaces the previous Geospark database.

All drill cores were photographed, prior to sampling the core.

Sub-sampling techniques and sample preparation Sampling, sample preparation and quality control protocols are considered appropriate for the material being sampled.

Whole core HQ samples. Whole core samples were collected in plastic bags together with pre-numbered sample tags and grouped into shipping bins for dispatch to the laboratory by dedicated transport. Sample lengths were typically 1.5m, and weights typically varied from 11 to 15kg, with an average weight of approximately 12.5 Kg. Sample sizes are considered appropriate for the style of mineralisation.

All drill core samples were freighted by road to the laboratory via hired transport.

Sample preparation was conducted at the independent ISO 9001 certified and ISO 17025 accredited ALS Global preparation laboratories including Terrace. Kamloops, Yellowknife, Vancouver,. Samples were dried at 600C, and crushed to 90% passing 2 mm, and split to obtain up to 1 kg sub-sample, which was pulverised (using LM2) to produce a pulped product with the minimum standard of 85% passing 75μm.

Duplicate sample data are available from crush and pulp samples at a rate of approximately 1:20. Duplicate results show an acceptable level of variability for the material sampled and style of mineralisation.

Quality of assay data and laboratory tests Assaying of drill core samples was conducted at ALS in North Vancouver. All samples were assayed for 33 elements using a 4-acid digestion followed by ICP-OES determination (method ME-ICP61). Gold analyses were determined by 50g fire assay with atomic absorption finish (method Au-AA26; with trigger to Au-Gra22 50g gravimetric overlimit method at 18 ppm).

Sampling and assaying quality control procedures consisted of inclusion of certified reference material (CRMs), coarse residue and pulp duplicates with each batch (at least 1:20).

Assays of quality control samples were compared with reference samples in the Acquire SQL database and verified as acceptable prior to formal use of data from analysed batches.

Laboratory quality duplicates including replicates and preparation duplicates are captured in the Acquire SQL database and assessed.

Prepared pulp splits for mineralized samples were sent to MS Analytical Labs in Langley BC for secondary lab check work by comparable Au and ICP methods to ensure agreement with original results; check pulps were prepared for 20 samples, from 5 of the Golden Marmot holes, and overall a representative 5-7% of mineralized samples for VOK drilling was sent for secondary lab checks, including North Block Phase 4 and 1080 East level drilling. Comparisons are acceptable.

Analysis of the available quality control sample assay results indicates that an acceptable level of accuracy and precision has been achieved. The database contains no analytical data that has been numerically manipulated.

The assaying techniques and quality control protocols used are considered appropriate for the data to be used for reporting exploration drilling results.

Verification of sampling and assaying Sampling intervals defined by the geologist are electronically assigned sample identification numbers prior to core sampling. Corresponding sample numbers matching pre-labelled sample tags are assigned to each interval.

All sampling and assay information were stored in a secure Acquire database with restricted access.

Sample submission forms providing the sample identification number accompany each submission to the laboratory. Assay results from the laboratory with corresponding sample identification are loaded directly into the Acquire database.

Assessment of reported significant assay intervals was verified by review of visible gold identified in the drill core and review of high resolution core photography. The verification of significant intersections has been completed by company personnel and the Competent Person/Qualified Person.

No adjustments are made to assay data, and no twinned holes have been completed. Drilling intersects mineralisation at various angles.

There are no currently known drilling, sampling, recovery, or other factors that could materially affect the accuracy or reliability of the data.

Location of data points All collar coordinates are provided in the North American Datum (NAD83 Zone 9N).

1080 HBx: Underground drill collar locations are marked up by the survey department with spray paint, and a back site and foresight are provided to enable alignment; Drills are then aligned by the drill contractor based on the markup and sights, and a TN-14 collar Gyro is used to confirm orientation prior to drilling.

Golden Marmot: Surface drill collar locations are marked with a stake, and a back site and fore site are provided to enable alignment. Collar locations are picked up using a Trimble 7-series differential GPS and a TN-14 collar Gyro is used to confirm orientation prior to drilling.

Topographic control is established from 2014 Lidar.

Data spacing and distribution 1080 HBx: Drill hole spacing is 15m laterally. Assays have been received for six drill fans to date, which is insufficient for estimation of a Mineral Resource.

Golden Marmot: Drill hole spacing was at 30m horizontal spacing within an area of 0.75km2. The current drill hole spacing does not provide sufficient information for the estimation of a Mineral Resource.

No sample compositing is applied to samples.

Orientation of data in relation to geological structure Drill holes at 1080 HBx are oriented towards 205 degrees in order to drill perpendicular to the broadly WNW-ESE oriented mineralization domains. Drilling at 1080 HBx intersected a mineralized structure oriented sub-parallel to Domain 20, hosted in the Eastern Promises Porphyry unit.

Drill holes at Golden Marmot are oriented towards either 145 degrees or 325 degrees in order to drill perpendicular to the mineralization domains which broadly strike towards 115 degrees.

Sample security The security of samples is ensured by tracking samples from drill rig to database and by using trusted transportation services, and third party laboratories with security protocols.

Drill core was delivered from the drill rig to the Brucejack Core Facility. Geological and geotechnical logging, high resolution core photography and whole core sampling was undertaken at the Brucejack Core Facility.

Sample numbers are obtained from pre-made sample tag books, first ensuring no duplication of sample ID’s in the database. Sample tags are inserted into labelled plastic bags together with the sample, and the bagged sample secured with a zip tie.

Samples were grouped in sequence into rice bags, then placed into dedicated sample shipment bins for transport offsite. Samples are transported by road to the preparation lab where transfer of custody occurs.

Verification of sample numbers and identification is conducted by the laboratory on receipt of samples, and sample receipt advice issued to Newcrest.

Details of all sample shipments are recorded in a shipment tracking table and require offsite removal forms prior to leaving the Brucejack site. Shipping dates, Hole IDs, sample ranges, and special instructions are recorded with the dispatch of samples to the laboratory analytical services. Receiving laboratories have a workorder template of methods and duplicates by which to process the samples unless otherwise specified. Any discrepancies noted during sample login at the laboratory are communicated and addressed.

Audits or reviews Due to the limited duration of the program, no external audits or reviews have been undertaken.

Internal verification and audit of Newcrest exploration procedures and databases are periodically undertaken.

 

Section 2: Reporting of Exploration Results

Criteria Commentary
Mineral tenement and land tenure status Brucejack comprises 346 mineral tenures including four mining leases and is 100% owned by Newcrest Mining Limited.

All obligations with respect to legislative requirements including minimum expenditure are maintained in good standing.

Exploration done by other parties Granduc, Esso, Newhawk, Lacana Mining Corp., and Silver Standard conducted exploration in the area between 1960 and 2010.

Pretium Resources acquired the Brucejack Property in 2010 and drilled the discovery hole at the Valley of the Kings in 2011. North Block and 1080 level were first drilled in 2020. Golden Marmot was previously drilled in 1988 and 2011.

Geology The Brucejack Project is located in the Stikine terrane of north-western British Columbia, 50 km north of the town of Stewart. Early Jurassic sedimentary and volcanic rocks of the Lower Hazelton Group host mineralisation. A pervasive quartz-pyrite-sericite alteration event predates the main stage of epithermal mineralisation. Gold mineralisation at Brucejack consists of electrum hosted in vein stockworks, sheeted veins, and veinlets.
Drill hole information As provided.
Data aggregation methods Significant assay intercepts are reported as length-weighted averages using a cut-off of 1.0 g/t Au and a minimum length of 7.5m, with less than 7.5m of consecutive internal dilution. Also reported are intervals greater than 100g/t Au. Intervals below a cutoff of 1.0gt Au were not reported as significant results. No top cuts are applied to intercept calculations.
Relationship between mineralisation widths and intercept lengths Significant assay intervals reported represent apparent widths. Insufficient geological information is available to confirm the geological model and true width of significant assay intervals.
Diagrams As provided.
Balanced reporting This is the fourth release of Exploration Results for this project made by Newcrest. Exploration results have been reported by Newcrest since April 2022.

Exploration drilling programs are ongoing and further material results will be reported in subsequent Newcrest releases.

Other substantive exploration data Nil.
Further work Drilling is currently underway at 1080 HBx to complete the remaining 1 drill fan in the program. Follow up drilling is also being planned for the Bridge Zone, Eastern Promises, and West VOK.

 

Drillhole data(1)

Brucejack, British Columbia, Canada
Reporting Criteria: Intervals are reported as length-weighted averages using a cut-off of 1.0 g/t Au and a minimum length of 7.5m, with less than 7.5m of consecutive internal dilution. Also reported are intervals greater than 100g/t Au. Intervals below a cutoff of 1.0gt Au were not reported as significant results. Gold grades are reported to two significant figures. Samples are from core drilling which is HQ in diameter. Core is photographed and logged by the geology team before being whole core sampled and sent for assay. Each assay batch is submitted with duplicates and standards to monitor laboratory quality.

Hole ID Hole
Type
Easting
(m)
Northing
(m)
RL
(m)
Total
Depth
(m)
Azimuth Dip From
(m)
To
(m)
Interval
(m)
Au
(ppm)
Cut
off
VU-4623 DD 426844 6257849 1089 321.2 205 -38.1 70.5 103 32.5 2.1 1.0
139.5 156 16.5 2.5 1.0
228 259.5 31.5 1.0 1.0
301.5 321.2 19.7 3.3 1.0
VU-4624 DD 426844 6257849 1089 372.1 204.8 -30.2 121.5 166.5 45 1.4 1.0
187.1 195 7.9 1.0 1.0
235.5 246 10.5 917 1.0
incl. 244 245 1 9,618 100
268.5 281.7 13.2 1.7 1.0
VU-4625 DD 426844 6257849 1089 348.2 205.1 -21.7 75.5 88.5 13 2.5 1.0
304.5 318 13.5 1.1 1.0
327 346.5 19.5 1.1 1.0
VU-4626 DD 426844 6257849 1089 327.2 205.27 -13.2 46.5 57 10.5 3.7 1.0
173.5 184.5 11 269 1.0
incl. 174.5 175.5 1 2,954 100
306 326.5 20.5 1.8 1.0
VU-4627 DD 426844 6257849 1089 434.8 205.1 -3.7 37.5 55.5 18 2.3 1.0
297 348 51 1.3 1.0
369 376.5 7.5 1.2 1.0
VU-4628 DD 426844 6257849 1089 322 204.99 5 223 232.5 9.5 2.4 1.0
VU-4629 DD 426844 6257849 1089 290.8 205.13 15 No significant assays
VU-4630 DD 426844 6257849 1089 230.8 205.1 24.5 No significant assays
VU-4666 DD 426723 6257839 1088 453.2 205.03 -37.2 102 114 12 1.1 1.0
213 264 51 2.3 1.0
274.5 327 52.5 1.4 1.0
342 373.5 31.5 1.1 1.0
393 412.5 19.5 1.6 1.0
VU-4667 DD 426723 6257839 1088 432 205.3 -30.2 97.5 106.5 9 1.4 1.0
205.5 224 18.5 2.0 1.0
238 249 11 12 1.0
incl. 238 239 1 113 100
331.5 408 76.5 3.2 1.0
VU-4668 DD 426723 6257839 1088 429.2 205.27 -24 114 123 9 2.4 1.0
136.5 172.5 36 1.1 1.0
181.5 193.5 12 1.9 1.0
226.5 234 7.5 1.3 1.0
VU-4669 DD 426723 6257839 1089 405.1 205.1 -17.2 384 385.5 1.5 135 100
433.5 442.5 9 1.1 1.0
VU-4670 DD 426723 6257839 1089 447.9 205.2 -9.2 90 145.5 55.5 1.9 1.0
292.5 300 7.5 2.3 1.0
328.5 358.5 30 1.1 1.0
VU-4671 DD 426723 6257840 1089 342.1 205.5 0.1 187.5 208.5 21 3.1 1.0
280.5 291 10.5 1.1 1.0
VU-4672 DD 426723 6257840 1090 243.3 204.8 8.8 78 117 39 3.3 1.0
132 142.38 10.38 1.5 1.0
190.5 207 16.5 1.0 1.0
VU-4673 DD 426723 6257839 1090 215.7 205 17.9 No significant assays
VU-4674 DD 426723 6257839 1091 191.9 205.1 26.4 Assays pending
VU-4675 DD 426723 6257839 1091 173.7 205.1 33.5 Assays pending
VU-4676 DD 426723 6257840 1091 158.8 205 40.1 Assays pending
VU-4771 DD 426844 6257849 1089 244.6 194.01 20.33 52.5 60 7.5 5.1 1.0
VU-4772 DD 426844 6257849 1089 308.9 194.14 10.64 No significant results
VU-4773 DD 426844 6257849 1089 330.3 193.98 0.73 57.75 68 10.25 1.5 1.0
260.3 261.3 1 570 100
VU-4774 DD 426844 6257849 1089 342.3 193.99 -9.16 63 84 21 1.7 1.0
165 178.5 13.5 1.7 1.0
204 211.5 7.5 2.6 1.0
276 300.18 24.18 2.1 1.0
VU-4775 DD 426844 6257849 1089 356.9 194.49 -16.96 Assays pending
VU-4776 DD 426844 6257849 1089 396 194 -24.5 Assays pending
VU-4777 DD 426844 6257849 1089 450 194.1 -35 Assays pending
SU-885 DD 425828 6261612 1780 442.4 21.57 -49.63 No significant assays
SU-892 DD 425627.66 6261868.67 1723.06 367.9 145.29 -70 No significant assays
SU-893 DD 425541.77 6261892.98 1710.32 442.8 146.06 -44.5 75 84 9 5.5 1.0
145.5 153 7.5 3.3 1.0
165 187.5 22.5 1.4 1.0
211.5 229.5 18 12 1.0
incl. 227 228 1 184 100
293 294 1 280 100
SU-894 DD 425542.23 6261892.42 1709.43 547.6 145.17 -54.9 No significant assays
SU-895 DD 425447.53 6261451.76 1577.7 494 55.11 -45 No significant assays
SU-896 DD 425447.12 6261451.44 1577.34 666 55.37 -59.7 141 142.5 1.5 113 100
160.5 169.5 9 10 1.0
SU-897 DD 425754.39 6261642.83 1764.69 310.4 324.82 -65.36 111 118.5 7.5 1.1 1.0
SU-898 DD 425611.19 6261796.49 1726.57 351.4 146.16 -44.1 197.85 198.85 1 472 100
SU-899 DD 425611.14 6261796.48 1727.23 448.2 144.98 -52.6 61.5 72 10.5 1.5 1.0
164.67 165.67 1 8,000 100
SU-900 DD 425610.89 6261795.65 1726.58 388.4 145.13 -60.1 No significant assays
SU-901 DD 425972.36 6261429.95 1748.36 676.8 23.61 -75.33 No significant assays
SU-902 DD 425569.26 6261694.9 1704.85 311.2 324.31 -55 No significant assays
SU-903 DD 425569.74 6261693.69 1704.23 469.9 323.62 -64.8 414 415 1 1740 100
456 466.5 10.5 1.2 1.0
SU-904 DD 425827.78 6261613.57 1781.96 796.8 21.11 -65.69 238.5 250.5 12 1.3 1.0
SU-905 DD 425289.51 6261556.51 1540.91 19.1 53.87 -45 Hole abandoned at 19.1m
SU-905A DD 425356.09 6261510.79 1564.67 605.1 53.87 -45 Assays pending
SU-906 DD 425289.35 6261556.27 1540.81 800.4 56.46 -59.53 Assays pending
SU-907 DD 425696.87 6261727.13 1754.38 186.2 323.56 -50 102 109.5 7.5 2.3 1.0
132 180 48 2.6 1.0
SU-908 DD 425697.96 6261725.58 1754.55 271.4 324.34 -79.8 109.5 127.5 18 1.0 1.0
SU-910 DD 425453.33 6262036.02 1634.72 653.5 55.02 -50.1 Assays pending
SU-911 DD 425450.39 6262038.13 1635.51 511.6 79.54 -49.9 Assays pending
SU-912 DD 425321.17 6261829.28 1639.79 604.3 148.31 -50.35 No significant assays
SU-913 DD 425222.98 6261822.75 1591.9 600.3 145.05 -49.98 Assays pending
SU-914 DD 425419.46 6261916.25 1660.35 544.4 144.7 -50 361.5 370.5 9 2.8 1.0
SU-915 DD 425419.12 6261916.5 1660.41 557.74 144.51 -60.2 No significant assays
SU-916 DD 425462.34 6261903.42 1678.81 466.3 146.46 -45.89 No significant assays
SU-917 DD 425462.49 6261905.24 1678.21 487.5 145.34 -51.7 123 134 11 2.3 1.0
142.5 154.5 12 1.1 1.0
267 274.5 7.5 2.9 1.0
SU-918 DD 425462.41 6261905.31 1678.88 514.8 144.74 -60.1 Assays pending
00SU-919 DD 425502.43 6261901.92 1694.57 550 145.1 -57.6 Assays pending
SU-920 DD 425061.69 6261988.04 1497.51 402 339.01 -49.8 Assays pending
SU-921 DD 425486.7 6261960.91 1665.65 538.3 143.65 -50.92 Assays pending
SU-922 DD 425486.45 6261961.28 1665.49 596.6 143 -58 Assays pending
SU-923 DD 425718.25 6261799.54 1753.76 249 325.25 -50.35 No significant assays
SU-924 DD 425514.01 6262025.6 1633.65 521 145.74 -60.17 Assays pending
SU-925 DD 425532.24 6261957.65 1675.4 445.9 145.13 -44.9 Assays pending
SU-926 DD 425532.66 6261957.11 1674.56 566.6 144.92 -60.1 Assays pending
SU-927 DD 425852.69 6261723.96 1768.94 558.3 336.44 -50 Assays pending

 

# drilling in progress, **partial intercept, assays pending. ^updated intercept ^^previously reported intercept

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Figure 11. Cross section for drill fan 1080_37_ELAT17_41_L1 (location shown on Figure 3) showing all drill holes and significant intercepts. Due to window size (+/- 30m) and section orientation (270˚) holes may appear on multiple sections.

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Figure 12. Cross section for drill fan 1080_37_ELAT17_41_L2 (location shown on Figure 3) showing all drill holes and significant intercepts. Due to window size (+/- 30m) and section orientation (270˚) holes may appear on multiple sections.

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Figure 13. Cross section for drill fan 1080_37_WLAT18_34 (as shown on Figure 3) showing all drill holes and significant intercepts. Due to window size (+/- 30m) and section orientation (270˚) holes may appear on multiple sections.

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Figure 14. Schematic plan view map of the Golden Marmot drilling showing the location of the drill fans and previous drilling.

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Figure 15. Cross section for drill holes SU-902, SU-903, SU-914, SU-915, SU-916, SU-917 (as shown on Figure 14) showing all significant intercepts. Due to window size (+/- 30m) and section orientation (060˚) holes may appear on multiple sections.

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Figure 16. Cross section for drill holes SU-893, SU-894, SU-898, SU-899, SU-900 (as shown on Figure 14) showing all significant intercepts. Due to window size (+/- 30m) and section orientation (060˚) holes may appear on multiple sections.

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Figure 17. Cross section for drill holes SU-892, SU-897, SU-907, SU-908 (as shown on Figure 14) showing all significant intercepts. Due to window size (+/- 30m) and section orientation (060˚) holes may appear on multiple sections.

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Figure 18. Cross section for drill holes SU-885, SU-895, SU-896, SU-904 (as shown on Figure 14) showing all significant intercepts. Due to window size (+/-20m) and section orientation (060˚) holes may appear on multiple sections.

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Appendix 2

Red Chris (70% Newcrest): JORC Table 1
Section 1: Sampling Techniques and Data

Criteria Commentary
Sampling techniques Core samples are obtained from core drilling. HQ and NQ diameter diamond core was drilled on a 3, 4.5m or 6m run. Core was cut using an automatic core-cutter and half core sampled at 2m intervals. Cover sequences were not sampled.
Drilling techniques Core drilling was advanced with HQ3, HQ, NQ3 and NQ diameter coring configuration.

Core from inclined drill holes are oriented on 3, 4.5m or 6m runs using an electronic core orientation tool (Reflex ACTIII). At the end of each run, the bottom of hole position is marked by the driller, which is later transferred to the whole drill core run length with a bottom of hole reference line.

Drill sample recovery Core recovery is systematically recorded from the commencement of coring to end of hole, by reconciling against driller’s depth blocks in each core tray with data recorded in the database. Drillers depth blocks provided the depth, interval of core recovered, and interval of core drilled.

Core recoveries were typically 100%, with isolated zones of lower recovery.

Logging Geological logging recorded qualitative descriptions of lithology, alteration, mineralisation, veining, and structure (for all core drilled – 13,854.0m in 18 holes – all holes intersected mineralisation, including orientation of key geological features).

Geotechnical measurements were recorded including Rock Quality Designation (RQD) fracture frequency, solid core recovery and qualitative rock strength measurements.

Magnetic susceptibility measurements were recorded every metre.

All geological and geotechnical logging was conducted at the Red Chris Mine.

Digital data logging was captured, validated and stored in an acQuire database.

All drill cores were photographed, prior to cutting and/or sampling the core.

Sub-sampling techniques and sample preparation Sampling, sample preparation and quality control protocols are considered appropriate for the material being sampled.

Core was cut and sampled at the Red Chris Mine core processing facility. Half core samples were collected in plastic bags together with pre-numbered sample tags and grouped in wood crates for dispatch to the laboratory. Sample weights typically varied from 5 to 10kg. Sample sizes are considered appropriate for the style of mineralisation. Drill core samples were freighted by road to the laboratory.

Sample preparation was conducted at the independent ISO 9001 certified and ISO 17025 accredited Bureau Veritas Commodities Canada Ltd Laboratory, Vancouver (Bureau Veritas). Samples were dried at 650C, and crushed to 95% passing 4.75 mm, and the split to obtain up to 1kg sub-sample, which was pulverised (using LM2) to produce a pulped product with the minimum standard of 95% passing 106μm.

Duplicate samples were collected from crush and pulp samples at a rate of 1:20. Duplicate results show an acceptable level of variability for the material sampled and style of mineralisation.

Periodic size checks (1:20) for crush and pulp samples and sample weights are provided by the laboratory and recorded in the acQuire database.

Quality of assay data and laboratory tests Assaying of drill core samples was conducted at Bureau Veritas. All samples were assayed for 59 elements using a 4-acid digestion followed by ICP-AES/ICP-MS determination (method MA250). Gold analyses were determined by 50g fire assay with ICP-ES finish (method FA350). Carbon and Sulphur were determined by Leco (method TC000) and mercury using aqua regia digestion followed by ICP-ES/MS determination (method AQ200).

Sampling and assaying quality control procedures consisted of inclusion of certified reference material (CRMs), coarse residue and pulp duplicates with each batch (at least 1:20).

Assays of quality control samples were compared with reference samples in the acQuire database and verified as acceptable prior to use of data from analysed batches.

Laboratory quality control data, including laboratory standards, blanks, duplicates, repeats and grind size results are captured in the acQuire database and assessed for accuracy and precision for recent data.

Due to the limited extent of the drilling program to date, extended quality control programs are yet to be undertaken, whereby pulped samples will be submitted to an umpire laboratory and combined with more extensive re-submission programs.

Analysis of the available quality control sample assay results indicates that an acceptable level of accuracy and precision has been achieved and the database contains no analytical data that has been numerically manipulated.

The assaying techniques and quality control protocols used are considered appropriate for the data to be used for reporting exploration drilling results.

Verification of sampling and assaying Sampling intervals defined by the geologist are electronically assigned sample identification numbers prior to core cutting. Corresponding sample numbers matching pre-labelled sample tags are assigned to each interval.

All sampling and assay information were stored in a secure acQuire database with restricted access.

Electronically generated sample submission forms providing the sample identification number accompany each submission to the laboratory. Assay results from the laboratory with corresponding sample identification are loaded directly into the acQuire database.

Assessment of reported significant assay intervals was verified by re-logging of drill core intervals and assessment of high resolution core photography. The verification of significant intersections has been completed by company personnel and the Competent Person/Qualified Person.

No adjustments are made to assay data, and no twinned holes have been completed. Drilling intersects mineralisation at various angles.

There are no currently known drilling, sampling, recovery, or other factors that could materially affect the accuracy or reliability of the data.

Location of data points Drill collar locations were surveyed using a RTK GPS with GNSS with a stated accuracy of +/- 0.025m.

Drill rig alignment was attained using an electronic azimuth aligner (Reflex TN14 GYROCOMPASS). Downhole survey was collected at 9 to 30m intervals of the drill hole using single shot survey (Reflex EZ-SHOT). At the end of hole, all holes have been surveyed using a continuous gyro survey to surface (Reflex EZ-GYRO).

Topographic control is established from PhotoSat topographic data and derived digital elevation model. The topography is generally low relief to flat, with an average elevation of 1500 m, with several deep creek gullies.

All collar coordinates are provided in the North American Datum (NAD83 Zone 9).

Data spacing and distribution The drill hole spacing ranges from 100 – 200m in lateral extent within an area of 1.5km2 at the East Ridge, 1.5km2 at the East Zone, 1.5km2 at the Main Zone and 1.5km2 at the Gully Zone. An initial Mineral Resource for the East Zone, Main Zone and Gully Zone was released on 31 March 2021.

No sample compositing is applied to samples.

Orientation of data in relation to geological structure Drilling of reported drill holes RC833, RC836, RC837, RC838, RC840, RC841, RC842, RC843, RC845, RC846, RC848, RC853, RC854, RC855, RC856, RC857, RC858, RC862 are oriented perpendicular to the intrusive complex. The intrusive complex has an east-northeast orientation, with drilling established on a north-northwest orientation.

Drill holes exploring the extents of the East Ridge, East Zone, Main Zone and Gully Zone mineral system intersected moderately dipping volcanic and sedimentary units cut by sub-vertical intrusive lithologies. Steeply dipping mineralised zones with an east-northeast orientation have been interpreted from historic and Newcrest drill holes.

Sample security The security of samples is controlled by tracking samples from drill rig to database.

Drill core was delivered from the drill rig to the Red Chris Mine core yard every shift. Geological and geotechnical logging, high resolution core photography and cutting of drill core was undertaken at the Red Chris core processing facility.

Samples were freighted in sealed bags with security tags by road to the laboratory, and in the custody of Newcrest representatives.

Sample numbers are generated from pre-labelled sample tags. All samples are collected in pre-numbered plastic bags. Sample tags are inserted into prenumbered plastic bags together with the sample.

Verification of sample numbers and identification is conducted by the laboratory on receipt of samples, and sample receipt advice issued to Newcrest.

Details of all sample movement are recorded in a database table. Dates, Hole ID sample ranges, and the analytical suite requested are recorded with the dispatch of samples to the laboratory analytical services. Any discrepancies logged at the receipt of samples into the laboratory analytical services are validated.

Audits or reviews Due to the limited duration of the program, no external audits or reviews have been undertaken.

Internal verification and audit of Newcrest exploration procedures and databases are periodically undertaken.

 

Section 2: Reporting of Exploration Results

Criteria Commentary
Mineral tenement and land tenure status Red Chris (including the GJ Property) comprises 204 mineral claims including five mining leases and is a joint venture between subsidiaries of Newcrest Mining Limited (70%) and Imperial Metals Corporation (30%). Newcrest Red Chris Mining Limited is the operator of Red Chris. In June 2022, Newcrest closed the acquisition of four early stage exploration properties from Hawkeye Gold & Diamond. The Todagin, McBride and Railway properties are expected to be added to the Red Chris Joint Venture.

Newcrest Red Chris Mining Limited and the Tahltan Nation (as represented by the Tahltan Central Government, the Tahltan Band and Iskut First Nation) signed an amended and restated updated Impact, Benefit and Co-Management Agreement (IBCA) covering Red Chris on 15 August 2019.

All obligations with respect to legislative requirements including minimum expenditure are maintained in good standing.

Exploration done by other parties Conwest Exploration Limited, Great Plains Development Co. of Canada, Silver Standard Mines Ltd, Texasgulf Canada Ltd. (formerly Ecstall Mining Limited), American Bullion Minerals Ltd and bcMetals Corporation conducted exploration in the areas between 1956 and 2006.

Imperial Metals Corporation acquired the project in 2007 and completed deeper drilling at the East and Main Zones between 2007 and 2012.

Geology The Red Chris Project is located in the Stikine terrane of north-western British Columbia, 80 km south of the town of Dease Lake.

Late Triassic sedimentary and volcanic rocks of the Stuhini Group host a series of Late Triassic to Early Jurassic (204−198 Ma) diorite to quartz monzonite stocks and dykes.

Gold and copper mineralisation at Red Chris consists of vein, disseminated and breccia sulphide typical of porphyry-style mineralisation. Mineralisation is hosted by diorite to quartz monzonite stocks and dykes. The main mineral assemblage contains well developed pyrite-chalcopyrite-bornite sulphide mineral assemblages as vein and breccia infill, and disseminations. The main mineralisation event is associated with biotite and potassium feldspar-magnetite wall rock alteration.

Drill hole information As provided.
Data aggregation methods Significant assay intercepts are reported as (A) length-weighted averages exceeding 0.1g/t Au greater than or equal to 20m, with less than 10m of consecutive internal dilution; and (B) length-weighted averages exceeding 0.5g/t Au for greater than or equal to 10m, with less than 10m of consecutive internal dilution; and (C) length-weighted averages exceeding 1g/t Au for greater than or equal to 10m, with less than 10m of consecutive internal dilution; (D) length-weighted averages exceeding 5g/t Au greater than or equal to 10m, with less than 10m of consecutive internal dilution; and (E) length-weighted averages exceeding 10g/t Au for greater than or equal to 10m, with less than 10m of consecutive internal dilution. No top cuts are applied to intercept calculations.
Relationship between mineralisation widths and intercept lengths Significant assay intervals reported represent apparent widths. Insufficient geological information is available to confirm the geological model and true width of significant assay intervals.
Diagrams As provided.
Balanced reporting This is the twenty-first release of Exploration Results for this project made by Newcrest. Exploration results have been reported by Newcrest since January 2020.

Earlier reporting of exploration programs conducted by Newcrest and Imperial Metals Corporation have previously been reported. Exploration drilling programs are ongoing and further material results will be reported in subsequent Newcrest releases.

Other substantive exploration data Nil.
Further work Further drilling is planned to define the extents of the East Ridge, Main Zone and Gully Zone.

 

Drillhole data(1)

Red Chris Project, British Columbia, Canada
Reporting Criteria: Intercepts reported are downhole drill width (not true width) Au >0.1ppm (0.1g/t Au) and minimum 20m downhole width with maximum consecutive internal dilution of 10m. Also highlighted are high grade intervals of Au >0.5ppm (0.5g/t Au), Au >1ppm (1g/t Au), Au > 5ppm (5g/t Au), Au >10ppm (10g/t Au) and minimum 10m downhole width with maximum consecutive internal dilution of 10m. Gold and copper grades are reported to two significant figures. Samples are from core drilling which is HQ or NQ in diameter. Core is photographed and logged by the geology team before being cut. Half core HQ and NQ samples are prepared for assay and the remaining material is retained in the core farm for future reference. Each assay batch is submitted with duplicates and standards to monitor laboratory quality. Total depth (end of hole) is rounded to one decimal place for reporting purposes.

Hole ID Hole
Type
Easting
(m)
Northing
(m)
RL
(m)
Total
Depth
(m)
Azimuth Dip From
(m)
To
(m)
Interval
(m)
Au
(ppm)
Cu
(pct)
Cut
off
RC833 DD  451611 6396091 1529 1022.1 149 -58 206 238 32 0.11 0.03 0.1
472 492 20 0.10 0.08 0.1
524 612 88 0.26 0.25 0.1
678 904 226 0.32 0.26 0.1
incl. 834 854 20 0.73 0.60 0.5
incl. 874 890 16 0.55 0.36 0.5
916 952 36 0.11 0.08 0.1
990 1022.1 32.1 0.13 0.05 0.1
RC836 DD  453111 6396595 1442 2030.5 141 -65 680 714 34 0.16 0.01 0.1
900 930 30 0.24 0.04 0.1
1218 1260 42 0.31 0.34 0.1
1276 1410 134 0.17 0.43 0.1
1476 1538 62 0.13 0.28 0.1
1638 1702 64 0.11 0.15 0.1
RC837 DD  451474 6395925 1529 926.4 149 -60 506 538 32 0.12 0.23 0.1
552 598 46 0.20 0.25 0.1
614 852 238 0.25 0.21 0.1
incl. 786 804 18 0.58 0.34 0.5
880 902 22 0.11 0.09 0.1
RC838 DD  451473 6395924 1529 815.1 149 -50 462 618 156 0.21 0.38 0.1
638 684 46 0.28 0.29 0.1
714 766 52 0.11 0.08 0.1
RC840 DD  453667 6396944 1371 1979.2 147 -62 1308 1448 140 0.33 0.47 0.1
incl. 1414 1446 32 0.59 0.59 0.5
1490 1556 66 0.65 0.60 0.1
incl. 1498 1540 42 0.78 0.70 0.5
1600 1652 52 0.17 0.26 0.1
1684 1802 118 0.18 0.25 0.1
RC841 DD  453896 6397057 1098 1576.1 145 -48 510 536 26 0.64 0.06 0.1
incl. 520 534 14 0.99 0.07 0.5
582 640 58 0.28 0.08 0.1
incl. 590 614 24 0.51 0.13 0.5
1306 1348 42 0.10 0.19 0.1
1446 1474 28 0.15 0.23 0.1
RC842 DD  453733 6396993 1363 1754.0 148 -56 1212 1277 65 0.13 0.39 0.1
1286 1356 70 0.48 0.66 0.1
incl. 1314 1350 36 0.62 0.70 0.5
1426 1690 264 0.18 0.39 0.1
RC843 DD  453628 6396537 1403 1189.0 146 -53 14 38 24 0.13 0.01 0.1
810 1012 202 0.47 0.64 0.1
incl. 864 942 78 0.83 1.0 0.5
incl. 908 940 32 1.2 1.3 1
1064 1086 22 0.15 0.06 0.1
RC845 DD  453628 6396536 1404 1085.5 145 -47 732 936 204 0.15 0.27 0.1
RC846 DD  453831 6397026 1352 1790.3 145 -57 1314 1344 30 0.11 0.28 0.1
1594 1634 40 0.11 0.25 0.1
1648 1690 42 0.14 0.27 0.1
RC848 DD  453481 6397024 1443 2006.3 145 -57 1246 1276 30 0.11 0.28 0.1
1320 1568 248 0.33 0.46 0.1
incl. 1492 1544 52 0.84 0.82 0.5
incl. 1510 1544 34 1.0 0.86 1
1684 1900 216 0.19 0.33 0.1
1914 1934 20 0.11 0.16 0.1
RC853 DD  453109 6396596 1442 1551.2 154 -63 522 574 52 0.16 0.02 0.1
942 1402 460 0.21 0.39 0.1
incl. 1184 1194 10 0.64 0.95 0.5
RC854 DD  453896 6397057 1096 1663.5 144 -53 80 106 26 0.18 0.09 0.1
124 148 24 0.23 0.03 0.1
550 678 128 0.22 0.05 0.1
1014 1074 60 0.11 0.19 0.1
1090 1110 20 0.14 0.27 0.1
1452 1476 24 0.11 0.15 0.1
RC855 DD  454037 6397102 1122 1216.9 148 -40 No significant intercepts
RC856 DD  451306 6395596 1435 957.0 147 -59 60 90 30 0.14 0.08 0.1
110 178 68 0.13 0.11 0.1
190 264 74 0.18 0.24 0.1
276 304 28 0.17 0.21 0.1
338 920 582 0.26 0.20 0.1
incl. 558 584 26 0.64 0.36 0.5
incl. 644 658 14 0.56 0.37 0.5
RC857 DD  453253 6397066 1471 2171.0 146 -57 1534 1800 266 0.43 0.57 0.1
incl. 1640 1656 16 0.62 0.69 0.5
incl. 1694 1750 56 0.83 1.2 0.5
incl. 1706 1740 34 1.1 1.6 1
1950 2124 174 0.18 0.21 0.1
incl. 2006 2018 12 0.60 0.59 0.5
RC858 DD  451297 6395477 1457 935.6 152 -59 16.16 54 37.84 0.16 0.01 0.1
82 102 20 0.19 0.02 0.1
306 472 166 0.20 0.16 0.1
incl. 406 416 10 0.51 0.32 0.5
500 776 276 0.36 0.31 0.1
incl. 700 768 68 0.65 0.70 0.5
872 935.6 63.6 0.14 0.17 0.1
RC859 DD  453158 6397048 1471 2143.7 149 -58 Assays Pending 
RC860 DD  454037 6397102 1122 1749.0 148 -60 Assays Pending 
RC861 DD  453066 6396918 1466 1946.0 144 -57 Assays Pending 
RC862 DD  453581 6396472 1409 938.0 149 -50 554 616 62 0.10 0.16 0.1
RC863# DD  453896 6397057 1098 1397.7 144 -61 Assays Pending 
RC864# DD  453404 6397179 1466 1161.4 146 -56 Assays Pending 
RC865# DD  453337 6397094 1467 1040.0 146 -58 Assays Pending 
RC866# DD  454038 6397103 1122 1095.0 148 -50 Assays Pending 
RC867# DD  453597 6397100 1424 740.7 148 -61 Assays Pending 
RC868 DD  452311 6395713 1423 146.0 320 -50 Development Hole
RC869 DD  452297 6395677 1428 161.3 335 -70 Development Hole
RC870 DD  452345 6395674 1425 155.0 330 -57 Development Hole
RC871 DD  452385 6395672 1424 105.0 155 -75 Development Hole

 

# drilling in progress, **partial intercept, assays pending. ^updated intercept ^^previously reported intercept

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Figure 19. Schematic plan view map of East Ridge showing drill hole locations (Newcrest & Imperial) and significant Newcrest intercepts (drill intercepts have been reported in Appendix 2 of this report, and in prior Newcrest exploration releases). 0.3 g/t Au, 1 g/t Au, 0.3% Cu and 1% Cu shell projections generated from a LeapfrogTM model.

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Figure 20. Schematic plan view map of Main Zone showing drill hole locations (Newcrest & Imperial) and significant Newcrest intercepts (drill intercepts have been reported in Appendix 2 of this report, and in prior Newcrest exploration releases). 0.3 g/t Au, 1 g/t Au, 0.3% Cu and 1% Cu shell projections generated from a LeapfrogTM model.

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Figure 21. Schematic cross section of RC858 (Section Line 11N – as shown on Figure 20) showing Newcrest and Imperial drill holes and Newcrest intercepts (drill intercepts have been reported in Appendix 2 of this report, and in prior Newcrest exploration releases) 0.1 g/t Au, 0.5 g/t Au and 1 g/t Au shell projections generated from LeapfrogTM model. Due to window size (+/- 50m) and section orientation (150˚) hole may appear on multiple sections.

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Figure 22. Schematic cross section of RC856 (Section Line 12N – as shown on Figure 20) showing Newcrest and Imperial drill holes and Newcrest intercepts (drill intercepts have been reported in Appendix 2 of this report, and in prior Newcrest exploration releases) 0.1 g/t Au, 0.5 g/t Au and 1 g/t Au shell projections generated from LeapfrogTM model. Due to window size (+/- 50m) and section orientation (150˚) hole may appear on multiple sections.

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Figure 23. Schematic cross section of RC837 & RC838 (Section Line 15N – as shown on Figure 20) showing Newcrest and Imperial drill holes and Newcrest intercepts (drill intercepts have been reported in Appendix 2 of this report, and in prior Newcrest exploration releases) 0.1 g/t Au, 0.5 g/t Au and 1 g/t Au shell projections generated from LeapfrogTM model. Due to window size (+/- 50m) and section orientation (150˚) hole may appear on multiple sections.

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Figure 24. Schematic cross section of RC833 (Section Line 17N – as shown on Figure 20) showing Newcrest and Imperial drill holes and Newcrest intercepts (drill intercepts have been reported in Appendix 2 of this report, and in prior Newcrest exploration releases) 0.1 g/t Au, 0.5 g/t Au and 1 g/t Au shell projections generated from LeapfrogTM model. Due to window size (+/- 50m) and section orientation (150˚) hole may appear on multiple sections.

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Figure 25. Schematic cross section of RC853 (Section Line 32N – as shown on Figure 19) showing Newcrest and Imperial drill holes and Newcrest intercepts (drill intercepts have been reported in Appendix 2 of this report, and in prior Newcrest exploration releases) 0.1 g/t Au, 0.5 g/t Au and 1 g/t Au shell projections generated from LeapfrogTM model. Due to window size (+/- 50m) and section orientation (150˚) hole may appear on multiple sections.

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Figure 26. Schematic cross section of RC836 (Section Line 33N – as shown on Figure 19) showing Newcrest and Imperial drill holes and Newcrest intercepts (drill intercepts have been reported in Appendix 2 of this report, and in prior Newcrest exploration releases) 0.1 g/t Au, 0.5 g/t Au and 1 g/t Au shell projections generated from LeapfrogTM model. Due to window size (+/- 50m) and section orientation (150˚) hole may appear on multiple sections.

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Figure 27. Schematic cross section of RC862 & RC857 (Section Line 36N – as shown on Figure 19) showing Newcrest and Imperial drill holes and Newcrest intercepts (drill intercepts have been reported in Appendix 2 of this report, and in prior Newcrest exploration releases) 0.1 g/t Au, 0.5 g/t Au and 1 g/t Au shell projections generated from LeapfrogTM model. Due to window size (+/- 50m) and section orientation (150˚) hole may appear on multiple sections.

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Figure 28. Schematic cross section of RC843 & RC845 (Section Line 37N – as shown on Figure 19) showing Newcrest and Imperial drill holes and Newcrest intercepts (drill intercepts have been reported in Appendix 2 of this report, and in prior Newcrest exploration releases) 0.1 g/t Au, 0.5 g/t Au and 1 g/t Au shell projections generated from LeapfrogTM model. Due to window size (+/- 50m) and section orientation (150˚) hole may appear on multiple sections.

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Figure 29. Schematic cross section of RC848 (Section Line 38N – as shown on Figure 19) showing Newcrest and Imperial drill holes and Newcrest intercepts (drill intercepts have been reported in Appendix 2 of this report, and in prior Newcrest exploration releases) 0.1 g/t Au, 0.5 g/t Au and 1 g/t Au shell projections generated from LeapfrogTM model. Due to window size (+/- 50m) and section orientation (150˚) hole may appear on multiple sections.

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Figure 30. Schematic cross section of RC840 (Section Line 39N – as shown on Figure 19) showing Newcrest and Imperial drill holes and Newcrest intercepts (drill intercepts have been reported in Appendix 2 of this report, and in prior Newcrest exploration releases) 0.1g/t, 0.5g/t Au and 1g/t Au shell projections generated from LeapfrogTM model. Due to window size (+/- 50m) and section orientation (150˚) hole may appear on multiple sections.

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Figure 31. Schematic cross section of RC842 (Section Line 40N – as shown on Figure 19) showing Newcrest and Imperial drill holes and Newcrest intercepts (drill intercepts have been reported in Appendix 2 of this report, and in prior Newcrest exploration releases) 0.1g/t, 0.5g/t Au and 1g/t Au shell projections generated from LeapfrogTM model. Due to window size (+/- 50m) and section orientation (150˚) hole may appear on multiple sections.

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Figure 32. Schematic cross section of RC846 (Section Line 41N – as shown on Figure 19) showing Newcrest and Imperial drill holes and Newcrest intercepts (drill intercepts have been reported in Appendix 2 of this report, and in prior Newcrest exploration releases) 0.1g/t, 0.5g/t Au and 1g/t Au shell projections generated from LeapfrogTM model. Due to window size (+/- 50m) and section orientation (150˚) hole may appear on multiple sections.

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Figure 33. Schematic cross section of RC841 & RC854 (Section Line 42N – as shown on Figure 19) showing Newcrest and Imperial drill holes and Newcrest intercepts (drill intercepts have been reported in Appendix 2 of this report, and in prior Newcrest exploration releases) 0.1g/t, 0.5g/t Au and 1g/t Au shell projections generated from LeapfrogTM model. Due to window size (+/- 50m) and section orientation (150˚) hole may appear on multiple sections.

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Appendix 3

Havieron Project (Greatland Gold Plc – Joint Venture Agreement): JORC Table 1
Section 1: Sampling Techniques and Data

Criteria Commentary
Sampling techniques Core samples are obtained from core drilling in Proterozoic basement lithologies. PQ-HQ and NQ diameter core was drilled on a 6m run. Core was cut using an automated core-cutter and half core sampled at 1m intervals with breaks for major geological changes. Sampling intervals range from 0.2 – 2.0m. Cover sequences were not sampled.
Drilling techniques Permian Paterson Formation cover sequence was drilled using mud rotary drilling. Depths of cover typically observed to approximately 420m vertically below surface. Steel casing was emplaced to secure the pre-collar.

Core drilling was advanced from the base of the cover sequence with PQ3, HQ3 and NQ2 diameter coring configuration.

Core from inclined drill holes is oriented on 3m and 6m runs using an electronic core orientation tool (Reflex ACTIII). At the end of each run, the bottom of hole position is marked by the driller, which is later transferred to the whole drill core run length with a bottom of hole reference line.

Drill sample recovery Core recovery is systematically recorded from the commencement of coring to end of hole, by reconciling against driller’s depth blocks in each core tray with data recorded in the database. Drillers depth blocks provided the depth, interval of core recovered, and interval of core drilled.

Core recoveries were typically 100%, with isolated zones of lower recovery.

Cover sequence drilling by the mud-rotary drilling did not yield recoverable samples.

Logging Geological logging recorded qualitative descriptions of lithology, alteration, mineralisation, veining, and structure (for all core drilled – 15,352m for 22 drill holes, all intersecting mineralisation), including orientation of key geological features.

Geotechnical measurements were recorded including Rock Quality Designation (RQD) fracture frequency, solid core recovery and qualitative rock strength measurements.

Magnetic susceptibility measurements were recorded every metre. The bulk density of selected drill core intervals was determined at site on whole core samples.

All geological and geotechnical logging was conducted at the Havieron site.

Digital data logging was captured on diamond drill core intervals only, and all data validated and stored in an acQuire database.

All drill cores were photographed, prior to cutting and/or sampling the core.

The logging is of sufficient quality to support Mineral Resource estimates.

Sub-sampling techniques and sample preparation Sampling, sample preparation and quality control protocols are considered appropriate for the material being sampled.

Core was cut and sampled at the Havieron core processing facility. Half core samples of between 0.2 and 2.0 m were collected in pre-numbered calico bags and grouped in plastic bags for dispatch to the laboratory. Sample weights typically varied from 0.5 to 8kg. Sample sizes are considered appropriate for the style of mineralisation. Drill core samples were freighted by air and road to the laboratory.

Sample preparation was conducted at the independent ISO17025 accredited Intertek Laboratory, Perth (Intertek). Samples were dried at 105oC, and crushed to 95% passing 4.75mm, and the split to obtain up to 3kg sub-sample, which was pulverised (using LM5) to produce a pulped product with the minimum standard of 95% passing 106μm. Routine grind size analysis is conducted.

Duplicate samples were collected from crush and pulp samples at a rate of 1:20. Duplicate results show an acceptable level of variability for the material sampled and style of mineralisation.

Periodic size checks (1:20) for crush and pulp samples and sample weights are provided by the laboratory and recorded in the acQuire database.

Quality of assay data and laboratory tests Assaying of drill core samples was conducted at Intertek. All samples were assayed for 48 elements using a 4-acid digestion followed by ICP-AES/ICP-MS determination (method 4A/MS907), which is considered to provide a total assay for copper. Gold analyses were determined by 50g fire assay with AAS finish (method FA50N/AA), which is considered to provide a total assay for gold.

Sampling and assaying quality control procedures consisted of inclusion of certified reference material (CRMs), coarse residue and pulp duplicates with each batch (at least 1:20).

Assays of quality control samples were compared with reference samples in acQuire database and verified as acceptable prior to use of data from analysed batches.

Laboratory quality control data, including laboratory standards, blanks, duplicates, repeats and grind size results are captured in the acQuire database and assessed for accuracy and precision for recent data.

Extended quality control programs including pulp samples submitted to an umpire laboratory and combined with more extensive re-submission programs have been completed.

Analysis of the available quality control sample assay results indicates that an acceptable level of accuracy and precision has been achieved and the database contains no analytical data that has been numerically manipulated.

The assaying techniques and quality control protocols used are considered appropriate for the data to be used for reporting exploration drilling results.

Verification of sampling and assaying Sampling intervals defined by the geologist are electronically assigned sample identification numbers prior to core cutting. Corresponding sample numbers matching pre-labelled calico bags are assigned to each interval.

All sampling and assay information were stored in a secure acQuire database with restricted access.

Electronically generated sample submission forms providing the sample identification number accompany each submission to the laboratory. Assay results from the laboratory with corresponding sample identification are loaded directly into the acQuire database.

Assessment of reported significant assay intervals was verified by re-logging of diamond drill core intervals and assessment of high resolution core photography. The verification of significant intersections has been completed by company personnel and the Competent Person/Qualified Person.

No adjustments are made to assay data, and no twinned holes have been completed.

There are no currently known drilling, sampling, recovery, or other factors that could materially affect the accuracy or reliability of the data.

Location of data points Drill collar locations were surveyed using a differential GPS with GNSS with a stated accuracy of +/- 0.5m for all drill holes reported.

Drill rig alignment was attained using an electronic azimuth aligner. Downhole survey was collected at 6-12m intervals in the cover sequence, and every 6 to 30m in diamond drill core segments of the drill hole using single shot (Axis Mining Champ Gyro). The single shot surveys have been validated using continuous survey to surface (Axis Mining Champ) along with a selection of drill holes re-surveyed by an external survey contactor using a DeviGyro tool – confirming sufficient accuracy for downhole spatial recording.

A LIDAR survey was completed over the project area in Nov 2019 which was used to prepare a DEM / topographic model for the project with a spatial accuracy of +/- 0.1m vertical and +/- 0.3m horizontal. The topography is generally low relief to flat, elevation within the dune corridors in ranges between 250-265m Australian Height Datum (AHD) steepening to the southeast. All collar coordinates are provided in the Geocentric Datum of Australian (GDA20 Zone 51). All relative depth information is reported in AHD +5000m.

Data spacing and distribution Within the South-East Crescent and Breccia zone drill hole spacing ranges from 50 to 100m, to 50 by 50m within the resource extents. Outside the initial resource boundary drill hole spacing ranges from 50 to 200m in lateral extent within the breccia zone over an area of ~2km2. The data spacing is sufficient to establish the degree of geological and grade continuity.

Significant assay intercepts remain open. Further drilling is required to determine the extent of currently defined mineralisation. No sample compositing is applied to samples.

Drilling intersects mineralisation at various angles.

Orientation of data in relation to geological structure Drill holes exploring the extents of the Havieron mineral system intersect moderately dipping carbonate and siliclastic sedimentary facies, mineralised breccia and sub-vertical intrusive lithologies. Geological modelling has been interpreted from historic and Newcrest drill holes.

Variable brecciation, alteration and sulphide mineralisation is observed with a footprint with dimensions of 650m x 350m trending in a north west orientation and over 1000m in vertical extent below cover.

The subvertical southeast high grade arcuate crescent sulphide zone has an average thickness of 20m and has been defined over a strike length of up to 550m, and extended to over 700m in vertical extent below cover.

Drilling direction is oriented to intersect the steeply dipping high-grade sulphide mineralisation zones at an intersection angle of greater than 40 degrees. The drilled length of reported intersections is typically greater than true width of mineralisation.

Sample security The security of samples is controlled by tracking samples from drill rig to database.

Drill core was delivered from the drill rig to the Havieron core yard every shift. On completion of geological and geotechnical logging, core processing was completed by Newcrest personnel at the Havieron facility.

High resolution core photography and cutting of drill core was undertaken at the Havieron core processing facilities.

Samples were freighted in sealed bags by air and road to the Laboratory, and in the custody of Newcrest representatives. Sample numbers are generated directly from the database. All samples are collected in pre-numbered calico bags.

Verification of sample numbers and identification is conducted by the laboratory on receipt of samples, and sample receipt advise issued to Newcrest.

Details of all sample movement are recorded in a database table. Dates, Hole ID sample ranges, and the analytical suite requested are recorded with the dispatch of samples to analytical services. Any discrepancies logged at the receipt of samples into the analytical services are validated.

Audits or reviews Internal reviews of core handling, sample preparation and assays laboratories were conducted on a regular basis by both project personnel and owner representatives.

In the Competent Person’s opinion, the sample preparation, security and analytical procedures are consistent with current industry standards and are entirely appropriate and acceptable for the styles of mineralisation identified and will be appropriate for use in the reporting of exploration results and Mineral Resource estimates. There are no identified drilling, sampling or recovery factors that materially impact the adequacy and reliability of the results of the drilling programme in place at the Havieron Project.

 

Section 2: Reporting of Exploration Results

Criteria Commentary
Mineral tenement and land tenure status The Havieron Project is entirely contained within mining tenement M45/1287, which is jointly owned by Greatland Pty Ltd and Newcrest Operations Limited. Newcrest has entered into a Joint Venture Agreement (effective 30 November 2020) and Farm-In Agreement (effective 12 March 2019) with Greatland Pty Ltd and Greatland Gold plc. Newcrest is the manager of the Havieron Project and holds a 70% interest (Greatland Gold holds a 30% interest).

Newcrest and Jamukurnu-Yapalikurnu Aboriginal Corporation (formerly WDLAC) are parties to an ILUA which relates to the use of native title land for Newcrest’s current operations at Telfer and its activities within a 60km radius around Telfer and includes its exploration activities at Havieron. The parties have agreed that the ILUA will apply to any future development activities by the Joint Venture Participants (Newcrest and Greatland Gold) at Havieron.

The mining tenement M45/1287 wholly replaces the 12 sub-blocks of exploration tenement E45/4701 (former part of the exploration tenement on which the Havieron Project is based) and was granted on 10 September 2020.

Exploration done by other parties Newcrest completed six core holes in the vicinity of the Havieron Project from 1991 to 2003. Greatland Gold completed drill targeting and drilling of nine Reverse Circulation (RC) drill holes with core tails for a total of approximately 6,800m in 2018. Results of drilling programs conducted by Greatland Gold have previously been reported on the Greatland Gold website.

Drilling has defined an intrusion-related mineral system with evidence of breccia and massive sulphide-hosted higher-grade gold-copper mineralisation.

Geology The Havieron Project is located within the north-western exposure of the Palaeo-Proterozoic to Neoproterozoic Paterson Orogen (formerly Paterson Province), 45 km east of Telfer. The Yeneena Supergroup hosts the Havieron prospect and consists of a 9km thick sequence of marine sedimentary rocks and is entirely overlain by approximately 420m of Phanerozoic sediments of the Paterson Formation and Quaternary aeolian sediments.

Gold and copper mineralisation at Havieron consist of breccia, vein and massive sulphide replacement gold and copper mineralisation typical of intrusion-related and skarn styles of mineralisation. Mineralisation is hosted by metasedimentary rocks (meta-sandstones, meta-siltstones and meta-carbonate) and intrusive rocks of an undetermined age. The main mineral assemblage contains well developed pyrrhotite-chalcopyrite and pyrite sulphide mineral assemblages as breccia and vein infill, and massive sulphide lenses. The main mineralisation event is associated with amphibole-carbonate-biotite-sericite-chlorite wall rock alteration. Drilling has partially defined the extents of mineralisation which are observed over 650m by 350m within an arcuate shaped mineralised zone, and to depths of up to 1400m below surface.

Drill hole Information As provided.
Data aggregation methods Significant assay intercepts are reported as (A) length-weighted averages exceeding 1.0g/t Au greater than or equal to 10m, with a maximum of 5m consecutive internal dilution; and (B) length-weighted averages exceeding 0.2g/t Au for greater than or equal to 20m, with a maximum of 10m consecutive internal dilution, and (C) intervals of >30g/t which are greater or equal to 30 gram metres (Au_ppm x length). No top cuts are applied to intercept calculations.
Relationship between mineralisation widths and intercept lengths Significant assay intervals reported represent apparent widths. Drilling is not always perpendicular to the dip of mineralisation and true widths are less than downhole widths. Estimates of true widths will only be possible when all results are received, and final geological interpretations have been completed.
Diagrams As provided.
Balanced reporting This is the twenty- fifth release of Exploration Results for this project made by Newcrest.. Exploration results have been reported by Newcrest since July 2019.

Earlier reporting of exploration programs conducted by Newcrest and Greatland Gold have previously been reported. Exploration drilling programs are ongoing and further material results will be reported in subsequent Newcrest releases.

Other substantive exploration data Nil
Further work Growth drilling is targeting the extensions of the 30 June 2022 Indicated and Inferred Mineral Resource estimate and to define the limits of the Havieron mineralised system.

 

Drillhole data(1)

Havieron Project, Paterson Province, Western Australia
Reporting Criteria: Intercepts reported are downhole drill width (not true width) Au >0.20ppm (0.2g/t Au) and minimum 20m downhole width with maximum consecutive internal dilution of 10m. Average grades are based on length-weighting of samples grades. Also highlighted are high grade intervals of Au >1.0ppm (1g/t Au) and minimum 10m downhole width with maximum consecutive internal dilution of 5m, and intervals of >30g/t which are greater or equal to 30 gram metres (Au_ppm x length) are tabled. Gold and copper grades are reported to two significant figures, the downhole lengths are rounded to 0.1m which may cause some apparent discrepancies in interval widths. Samples are from core drilling which is PQ, HQ or NQ in diameter. Core is photographed and logged by the geology team before being cut. Half core PQ, HQ and NQ samples are prepared for assay and the remaining material is retained in the core farm for future reference. Each assay batch is submitted with duplicates and standards to monitor laboratory quality. Total depth (end of hole) is rounded to one decimal place for reporting purposes. Collars denoted with a * show partial results, with further significant assays to be reported in subsequent exploration updates.

Hole ID Hole
Type
Easting
(m)
Northing
(m)
RL
(m)
Total
Depth
(m)
Azimuth Dip From
(m)
To
(m)
Interval
(m)
Au
(ppm)
Cu
(pct)
Cut
off
HAD087W1 MR-DD 464338 7598259 258 1603.1 222 -70 Assays Pending
HAD098W6 MR-DD 463591 7597381 264 1203 38 -61 906 956 50 0.25 0.14 0.2 g/t Au
1013 1051 38 0.43 0.1 0.2 g/t Au
1065 1094 29 0.48 0.06 0.2 g/t Au
1140 1196 56 0.55 0.12 0.2 g/t Au
HAD098W7 MR-DD 463591 7597381 264 1836.8 38 -61 896 928 32 0.56 0.11 0.2 g/t Au
1008 1092 84 3.2 0.14 0.2 g/t Au
incl. 1074 1076 2 56 0.35 30 g.m. Au
incl. 1080 1082 2 65 1.1 30 g.m. Au
1128 1210 82 0.7 0.09 0.2 g/t Au
1242 1320 78 1.2 0.28 0.2 g/t Au
incl. 1260 1292 32 2.4 0.4 1.0 g/t Au
1334 1358 24 0.78 0.17 0.2 g/t Au
1408 1434 26 0.21 0.11 0.2 g/t Au
1496 1566 70 0.61 0.04 0.2 g/t Au
1584 1610 26 2.2 0.17 0.2 g/t Au
1678 1716 38 0.77 0.17 0.2 g/t Au
incl. 1678 1688 10 1.1 0.26 1.0 g/t Au
HAD098W8 MR-DD 463591 7597381 264 1540.1 38 -61 Assays Pending
HAD098W9 MR-DD 463591 7597381 264 1666.1 38 -61 Assays Pending
HAD134 MR-DD 464778 7598425 258 1846.4 225 -66 1508 1590 82 2.1 0.25 0.2 g/t Au
incl. 1540 1570 30 2.4 0.19 1.0 g/t Au
incl. 1576 1588 12 3 0.28 1.0 g/t Au
1620 1690 70 0.34 0.05 0.2 g/t Au
1742 1768 26 0.44 0 0.2 g/t Au
1780 1841 61 0.31 0.09 0.2 g/t Au
HAD134W1 MR-DD 464778 7598425 258 1795.1 225 -66 Resource Infill Hole
HAD134W2 MR-DD 464778 7598425 258 1774.1 225 -66 Resource Infill Hole
HAD152W4 MR-DD 463401 7597059 254 2169.5 33 -64 1447 1495 48 0.95 0.09 0.2 g/t Au
incl. 1483 1493 10 1.9 0.19 1.0 g/t Au
1683 1710 27 0.53 0.13 0.2 g/t Au
1994 2022 28 0.34 0.01 0.2 g/t Au
2056 2142 86 0.88 0.05 0.2 g/t Au
incl. 2120 2130 10 4.0 0.04 1.0 g/t Au
HAD152W5 MR-DD 463401 7597059 254 2172.2 33 -64 1494 1530 36 0.29 0.07 0.2 g/t Au
1607 1669 62 0.92 0.4 0.2 g/t Au
1994 2022 28 0.52 0.07 0.2 g/t Au
2042 2069 27 1.4 0.06 0.2 g/t Au
2109 2141 32 0.47 0.03 0.2 g/t Au
HAD161 MR-DD 463407 7597519 263 1518.5 38 -61 Assays Pending
HAD161W1 MR-DD 463407 7597519 263 1618 38 -61 Assays Pending
HAD163 MR-DD 464490 7598141 258 1725 198 -80 1415 1501 86 1.2 0.04 0.2 g/t Au
incl. 1452 1478 26 1.9 0.09 1.0 g/t Au
1582 1604 22 0.66 0.05 0.2 g/t Au
HAD163W1 MR-DD 464490 7598141 258 1718.9 198 -80 1458 1629.1 171.1 0.68 0.04 0.2 g/t Au
incl. 1492 1524 32 1.5 0.09 1.0 g/t Au
HAD164 MR-DD 464444 7598227 258 1089.6 220 -79 Abandoned Hole
HAD164W1 MR-DD 464444 7598227 258 817.5 220 -79 Abandoned Hole
HAD164W2 MR-DD 464444 7598227 258 1681.2 220 -79 Resource Infill Hole
HAD164W3 MR-DD 464444 7598227 258 1738.3 220 -79 Assays Pending
HAD165 MR-DD 464067 7599163 257 996.7 85 -65 No Significant Results
HAD166 MR-DD 464338 7598259 258 770.5 218 -81 Abandoned Hole
HAD166W1 MR-DD 464338 7598259 258 886.2 218 -81 Abandoned Hole
HAD166W2 MR-DD 464338 7598259 258 1772.8 218 -81 Resource Infill Hole
HAD167 MR-DD 464625 7598151 258 1888.5 199 -77 1516 1594 78 1.9 0.19 0.2 g/t Au
HAD168 MR-DD 464463 7598018 257 1040.3 210 -80 Abandoned Hole
HAD168W1 MR-DD 464463 7598018 257 1045.6 211 -80 Abandoned Hole
HAD168W2 MR-DD 464463 7598018 257 1634.5 211 -80 1487 1523 36 0.89 0.02 0.2 g/t Au
HAD169 MR-DD 464308 7597211 260 865 76 -56 Assays Pending
HAD170 MR-DD 463275 7598285 254 780.7 68 -60 Assays Pending
MEC001 MR-DD 463151 7595778 253 497.9 45 -73 Abandoned Hole
MEC001W1 MR-DD 463151 7595778 253 1143.2 45 -73 No Significant Results
NOR002 MR-DD 464229 7600143 258 1177.5 85 -75 No Significant Results

 

# drilling in progress, **partial intercept, assays pending. ^updated intercept ^^previously reported intercept, +intercept within published resource

Cannot view this image? Visit: https://www.nxtmine.com/wp-content/uploads/2023/01/372f304935884b720e6ddb1ea91df238.jpg

Figure 34. Schematic plan view map showing drill hole locations and significant intercepts reported in this release superimposed on the interpreted geology. Previously reported holes are not shown for the sake of clarity. Note some holes and results appear on multiple sections due to the sections orientation and sections overlap.

To view an enhanced version of Figure 34, please visit:
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Figure 35. Schematic cross section of geology and significant new drillhole intercepts (looking northwest, Section Line S1, +/-100m section width, as shown in Figure 34). Due to section window size and orientation holes may appear on multiple sections. This diagram highlights >50gram metres intersections drilled during the period. Reported drill holes are outside of the existing resource.

To view an enhanced version of Figure 35, please visit:
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Figure 36. Schematic cross section of geology and significant new drillhole intercepts (looking northwest, Section Line S2, +/-50m section width, as shown in Figure 34). Due to section window size and orientation holes may appear on multiple sections. This diagram highlights >50gram metres intersections drilled during the period. Reported drill holes are outside of the existing resource.

To view an enhanced version of Figure 36, please visit:
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Figure 37. Schematic cross section of geology and significant new drillhole intercepts (looking northwest, Section Line S3, +/-50m section width, as shown in Figure 34). The blue intercepts represent results wholly or partially within the Mineral Resource. Due to section window size and orientation holes may appear on multiple sections. This diagram highlights >50gram metres intersections drilled during the period which. Reported drill holes are outside of the existing resource.

To view an enhanced version of Figure 37, please visit:
https://images.newsfilecorp.com/files/7614/152402_b06dce7ac4bcaa13_039full.jpg

Appendix 4

Spring Peak (Headwater Gold Inc., Farm-In Agreement): JORC Table 1
Section 1: Sampling Techniques and Data

Criteria Commentary
Sampling techniques Core samples are obtained from core drilling. HQ diameter diamond core was drilled on a 1.52m (5ft) run. Halved core was sampled at intervals ranging from a minimum of 0.30m (1ft) within zones of veining and strong alteration to a maximum of 1.68m (5.5ft) in areas of minimally altered host rock.

Reverse circulation (“RC”) samples are obtained from RC drilling, with samples collected on 1.52m (5ft) intervals at the drill site using an industry-standard cyclone and splitter affixed to the drill rig.

Drilling techniques Core drilling was advanced with HQ diameter coring configuration.

Core holes are inclined and core oriented on 1.52m runs using an electronic core orientation tool (Reflex ACTIII). At the end of each run, the bottom of hole position is marked by the drill rig personnel and the orientation mark is then transferred to the entire drill core run length with a bottom of hole reference line.

RC drilling was carried out using a 12 cm (4.6in) conventional hammer bit.

Precollar drill holes were advanced from surface using conventional RC drilling techniques and sample protocols. Upon completion of the RC precollar drilling and precollar survey, the RC crew inserted drill casing from surface to the bottom of the hole. Cased precollars were re-entered by a core rig and the holes extended as core tails from the bottom of the casing.

Drill sample recovery Core recovery is systematically recorded from the commencement of coring to end of hole, by reconciling against driller’s depth blocks in each core tray with data recorded in the database. Drillers depth blocks provided the depth, interval of core recovered, and interval of core drilled.

Core recoveries were typically 100%, with isolated zones of lower recovery.

Logging Geological logging recorded qualitative descriptions of lithology, alteration, mineralisation, veining, and structure (for all core drilled – 993m; and for all RC samples – 2180m).

Geological logging was conducted at the Spring Peak Project site and at the Headwater Gold core processing facility in Sparks, Nevada.

Digital data logging was captured, validated and stored in an SQL database.

All drill core was photographed once sample intervals were established and prior to core cutting.

Sub-sampling techniques and sample preparation Sampling, sample preparation and quality control protocols are considered appropriate for the material being sampled.

Cut core HQ samples. Half cut core samples were collected in Protexo cloth bags together with pre-numbered sample tags and grouped into shipping bins for dispatch to the laboratory by dedicated transport. Sample lengths ranged from 0.57m to 0.8m Sample sizes are considered appropriate for the style of mineralisation.

All drill core samples were freighted by road to Bureau Veritas prep facility via laboratory in-house transport.

Sample preparation was conducted at Bureau Veritas facilities in Sparks, Nevada. Geochemical analyses were carried out at the independent ISO 17025:2017 accredited Bureau Veritas laboratories in Vancouver, B.C. Samples were dried at 60° C, and crushed to 70% passing 2 mm, and split to obtain a 250g sub-sample (method PRP70-250), which was pulverised to produce a pulped product with the minimum standard of 85% passing 75μm (method PUL85).

Duplicate sample data are available from crush and pulp samples at a rate of approximately 1:50, which is acceptable for the material sampled and style of mineralisation. Observed duplicate variability in high-grade samples is addressed with follow-up screen fire assay consisting of 1 kg of coarse reject from original sample.

Quality of assay data and laboratory tests Assaying of drill core samples was conducted at Bureau Veritas in North Vancouver. All samples were analysed for 59 elements using a 4-acid digestion followed by ICP-MS determination (method MA250). Gold analyses were determined by 30g fire assay with ICP-ME finish (method FA330) which is considered to provide a total assay for gold. Gravimetric analyses are automatically carried out for gold assays > 10 ppm and silver analyses >200 using 30 g pulps (method FA550).

Sampling and assaying quality control procedures consisted of inclusion of certified reference material (CRMs), coarse residue and pulp duplicates with each batch (at least 1:20).

Assays of quality control samples were compared with reference samples in the Headwater SQL database and verified as acceptable prior to formal use of data from analysed batches.

Laboratory quality duplicates including replicates and preparation duplicates are captured in the Headwater SQL database and assessed.

Analysis of the available quality control sample assay results indicates that an acceptable level of accuracy and precision has been achieved. The database contains no analytical data that has been numerically manipulated.

The assaying techniques and quality control protocols used are considered appropriate for the data to be used for reporting exploration drilling results.

Verification of sampling and assaying Core sampling intervals are defined by the geologist during logging then assigned pre-printed sample identification numbers prior to core photography, cutting, and sampling. Pre-printed sample identification tags are affixed in the core box corresponding to each sampled interval and a duplicate sample tag placed in a pre-labelled bag containing the sampled core for assay.

All sampling and assay information are maintained in an off-site secure SQL database.

Sample submission forms providing the sample identification number accompany each submission to the laboratory. Assay results from the laboratory with corresponding sample identification are loaded directly into the SQL database.

No adjustments are made to assay data. Drilling intersects mineralisation at various angles. No twinned holes have been completed. There are no currently known drilling, sampling, recovery, or other factors that could materially affect the accuracy or reliability of the data.

Location of data points All collar coordinates are provided in the North American Datum (NAD83 Zone 11N).

Surface drill collar locations are monumented with a stamped brass tag. Collar coordinates were surveyed with a Trimble RTX GPS to 0.10m accuracy. Azimuth and inclination of the drillholes are surveyed with a Reflex EZ Sprint Gyro continuous survey tool from collar to total depth upon hole completion.

Data spacing and distribution A total of 15 drillholes have been completed by Headwater Gold across an area of approximately 4 sq. km, which is insufficient for estimation of a Mineral Resource.

No sample compositing is applied to samples.

Orientation of data in relation to geological structure A fan of 4 drill holes targeting the Disco Vein zone was drilled from a single pad. All holes were drilled on an azimuth of 330 degrees in order to drill broadly perpendicular to the inferred ENE strike of the Disco Vein zone. The inclination of drill holes ranged from -45 degrees to -73 degrees to intercept the Disco Vein target at multiple elevations.

Additional exploration drilling comprised 6 widely spaced drillholes designed to test structurally-controlled targets with a variety of orientations. All drill holes were designed to intersect the target structures perpendicular to inferred strike.

Sample security The security of samples is ensured by tracking samples from drill rig to database and by using trusted transportation services, and third party laboratories with security protocols.

Drill core was delivered from the drill rig to the Hawthorne project laydown by drill contractors. Whole core was palletised and then transported from Hawthorne to Sparks, NV by professional transport service for detailed geological logging, high resolution core photography, cutting, and sampling by Headwater personnel.

Sample numbers are obtained from pre-made sample tag books, first ensuring no duplication of sample ID’s in the database. Sample tags are inserted into labelled Protexo fabric bags together with the sample, and the bagged sample secured with a drawstring.

Core samples were placed into dedicated sample shipment bins for transport from the logging facility. Binned samples are transported by truck to the preparation lab where transfer of custody occurs.

RC samples are transported from drill pads to the Hawthorne project laydown by the drill company. RC samples are dispatched to the Bureau Veritas prep facility in Sparks from Hawthorne via Bureau Veritas in-house transport service.

Verification of sample numbers and identification is conducted by the laboratory on receipt of samples, and sample receipt advice issued to Headwater Gold.

Details of all sample shipments are recorded in chain of custody documents prior to leaving Headwater facilities. Shipping dates, submittal IDs, sample ranges, and special instructions are recorded with the dispatch of samples to the laboratory analytical services. Receiving laboratories have a workorder template of methods and duplicates by which to process the samples unless otherwise specified. Any discrepancies noted during sample login at the laboratory are communicated and addressed.

Audits or reviews Due to the early stage of the exploration program, no external audits or reviews have been undertaken.

Internal reviews of sample handling and preparation are undertaken by Headwater personnel. Analytical methods, QAQC procedures, sample intervals, and sample recovery have been reviewed and deemed appropriate by an independent Qualified Person, as defined by Canadian National Instrument 43-101 – Standards of Disclosure for Mineral Projects.

 

Section 2: Reporting of Exploration Results

Criteria Commentary
Mineral tenement and land tenure status Spring Peak comprises 286 unpatented lode mining claims. 254 claims staked by CP Holdings Corporation, U.S. subsidiary of Headwater Gold with 32 additional claims held by an underlier with an agreement in place whereby Headwater Gold can obtain a 100% interest. Newcrest has entered into an Exploration Farm-In Agreement with CP Holdings Corporation and Headwater Gold Inc., effective 15 August 2022, with Headwater Gold as the initial Manager of the Spring Peak project. Newcrest is currently in the Option Phase of the Farm-in Agreement.

All obligations with respect to legislative requirements including minimum expenditure are maintained in good standing.

Exploration done by other parties Labradex, Teck, Radius Gold, and OceanaGold conducted exploration in the area between 1980 and 2020.

Headwater Gold acquired the Spring Peak Property in June, 2021 and drilled the first significant vein intercept in August of 2021. Previously drilling by Labradex and Teck took place between 1983 and 1989. No drilling took place at Spring Peak between 1990 and 2020.

Geology The Spring Peak Project is located in the western part of the Basin and Range Province in west-central Nevada, U.S.A, 38 km southwest of the town of Hawthorne, NV.

Gold mineralisation is associated with a low-sulfidation epithermal system within the Bodie Hills – Aurora Volcanic Field. Mineralization is hosted in high-angle quartz-calcite veins with extensive silica-adularia-illite alteration. Mineralized veins occur in both a Cretaceous granite stock and adjacent package of Jurassic metavolcanic rocks into which the granite stock has been emplaced.

Drill hole information As provided.
Data aggregation methods Primary intervals are reported using 0.2 g/t Au cut off and 2.0 g/t Au for included intervals.
Relationship between mineralisation widths and intercept lengths Significant assay intervals reported represent apparent widths. True thickness of the mineralised intervals is estimated to be approximately 60% of downhole lengths. Internal dilution is less than 30%
Diagrams As provided.
Balanced reporting This is the first release of Exploration Results for this project made by Newcrest.

Exploration drilling programs are ongoing and further material results will be reported in subsequent Newcrest releases.

Other substantive exploration data Nil.
Further work Planned follow up exploration commencing in July, 2023 following receipt of all pending assays.

 

Drillhole data(1)

Spring Peak, Nevada USA
Reporting Criteria: Intervals are reported as length-weighted averages using a cut-off of 0.2 g/t Au and a minimum length of 0.3m, with less than 30% total internal dilution. Also reported are intervals greater than 2.0g/t Au. Intervals below a cutoff of 0.2g/t Au were not reported as significant results. Gold grades are reported to two significant figures. Samples are from RC drilling and core drilling which is HQ in diameter. Core is photographed and logged by the geology team before being whole core sampled and sent for assay. Each assay batch is submitted with duplicates and standards to monitor laboratory quality.

Hole ID Hole
Type
Easting
(m)
 Northing
(m)
RL
(m)
Total
Depth
(m)
Azimuth Dip  From
(m)
To
(m)
Interval
(m)
Au
 (ppm)
Cut
off
(ppm)
SP22-06C RC-DD 337566.67 4234826.84 2321.56 429.77 358 -47 Assays pending
SP22-07 DD 338097.41 4234951.96 2327.53 374.75 328 -45 Assays pending
SP22-08 RC-DD 336809.07 4235778.73 2446.34 439.83 159 -48 Assays pending
SP22-09 RC 336635.79 4235714.46 2436.39 318.52 339 -51 Assays pending
SP22-10 RC 338248.81 4235022.76 2338.22 201.17 315 -58 Assays pending
SP22-11 RC-DD 338095.14 4234951.93 2327.28 237.74 332 -63 Assays pending
SP22-12 RC-DD 338096.09 4234950.54 2327.54 271.27 334 -67 Assays pending
SP22-13 RC-DD 338096.43 4234949.75 2327.68 315.47 335 -74 256.12 290.84 34.72 2.7 0.2
Incl. 262.46 264.47 2.01 10 2
Incl. 275.26 277.64 2.38 16 2
SP22-14 RC 337298.64 4235343.48 2388.23 297.18 246 -46 Assays pending
SP22-15 RC 337596.44 4235757.96 2426.09 287.12 338 -45 Assays pending

 

# drilling in progress, **partial intercept, assays pending. ^updated intercept ^^previously reported intercept

Forward Looking Statements

This document includes forward looking statements and forward looking information within the meaning of securities laws of applicable jurisdictions. Forward looking statements can generally be identified by the use of words such as “may”, “will”, “expect”, “intend”, “plan”, “estimate”, “target”, “anticipate”, “believe”, “continue”, “objectives”, “outlook” and “guidance”, or other similar words and may include, without limitation, statements regarding estimated reserves and resources, internal rates of return, expansion, exploration and development activities and the specifications, targets, results, analyses, interpretations, benefits, costs and timing of them; certain plans, strategies, aspirations and objectives of management, anticipated production, sustainability initiatives, climate scenarios, dates for projects, reports, studies or construction, expected costs, cash flow or production outputs and anticipated productive lives of projects and mines. The Company continues to distinguish between outlook and guidance. Guidance statements relate to the current financial year. Outlook statements relate to years subsequent to the current financial year.

These forward looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance, and achievements to differ materially from any future results, performance or achievements, or industry results, expressed or implied by these forward looking statements. Relevant factors may include, but are not limited to, changes in commodity prices, foreign exchange fluctuations and general economic conditions, increased costs and demand for production inputs, the speculative nature of exploration and project development, including the risks of obtaining necessary licences and permits and diminishing quantities or grades of resources or reserves, political and social risks, changes to the regulatory framework within which the Company operates or may in the future operate, environmental conditions including extreme weather conditions, recruitment and retention of personnel, industrial relations issues and litigation. For further information as to the risks which may impact on the Company’s results and performance, please see the risk factors discussed in the Operating and Financial Review included in the Appendix 4E and Financial Report for the year ended 30 June 2022 and the Annual Information Form dated 14 December 2022 which are available to view at www.asx.com.au under the code “NCM” and on Newcrest’s SEDAR profile.

Forward looking statements are based on management’s current expectations and reflect Newcrest’s good faith assumptions, judgements, estimates and other information available as at the date of this report and/or the date of Newcrest’s planning or scenario analysis processes as to the financial, market, regulatory and other relevant environments that will exist and affect Newcrest’s business and operations in the future. Newcrest does not give any assurance that the assumptions will prove to be correct. There may be other factors that could cause actual results or events not to be as anticipated, and many events are beyond the reasonable control of Newcrest. Readers are cautioned not to place undue reliance on forward looking statements, particularly in the current economic climate with the significant volatility, uncertainty and disruption caused by global events such as geopolitical tensions and the ongoing COVID19 pandemic. Forward looking statements in this document speak only at the date of issue. Except as required by applicable laws or regulations, Newcrest does not undertake any obligation to publicly update or revise any of the forward looking statements or to advise of any change in assumptions on which any such statement is based.

Ore Reserves and Mineral Resources Reporting Requirements

As an Australian Company with securities listed on the Australian Securities Exchange (ASX), Newcrest is subject to Australian disclosure requirements and standards, including the requirements of the Corporations Act 2001 and the ASX. Investors should note that it is a requirement of the ASX Listing Rules that the reporting of Ore Reserves and Mineral Resources in Australia is in accordance with the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (the JORC Code) and that Newcrest’s Ore Reserve and Mineral Resource estimates and reporting comply with the JORC Code.

Newcrest is also subject to certain Canadian disclosure requirements and standards, as a result of its secondary listing on the Toronto Stock Exchange (TSX), including the requirements of National Instrument 43-101 – Standards of Disclosure for Mineral Projects (NI 43-101). Investors should note that it is a requirement of Canadian securities law that the reporting of Mineral Reserves and Mineral Resources in Canada and the disclosure of scientific and technical information concerning a mineral project on a property material to Newcrest comply with NI 43-101.

Newcrest’s material properties are currently Cadia, Lihir, Red Chris and Wafi-Golpu. Copies of the NI 43-101 Reports for Cadia, Lihir and Wafi-Golpu, which were released on 14 October 2020, and Red Chris, which was released on 30 November 2021, are available at www.newcrest.com and on Newcrest’s SEDAR profile.

Competent Person’s Statement

The information in this document that relates to Exploration Targets, Exploration Results, and related scientific and technical information, is based on and fairly represents information compiled by Mr F. MacCorquodale. Mr MacCorquodale is the General Manager – Greenfields Exploration and a full-time employee of Newcrest Mining Limited. He is a shareholder in Newcrest Mining Limited and is entitled to participate in Newcrest’s executive equity long term incentive plan, details of which are included in Newcrest’s 2022 Remuneration Report. He is a Member of the Australian Institute of Geoscientists. Mr MacCorquodale has sufficient experience which is relevant to the styles of mineralisation and types of deposits under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the JORC Code and as a Qualified Person under NI 43-101. Mr MacCorquodale approves the disclosure of scientific and technical information contained in this document and consents to the inclusion of material of the matters based on his information in the form and context in which it appears.

Authorised by the Newcrest Disclosure Committee

For further information please contact

Investor Enquires
Tom Dixon
+61 3 9522 5570
+61 450 541 389
[email protected]

Rebecca Lay
+61 3 9522 5298
+61 438 355 511
[email protected]

North American Investor Enquiries
Vlada Cvijetinovic
+1 604 566 8781
+1 604 240 2998
[email protected]

Media Enquiries
Tim Salathiel
+61 3 9522 4263
+61 407 885 272
[email protected]

This information is available on our website at www.newcrest.com.


1 # drilling in progress ** partial intercept, assays pending ^ updated intercept or ^^ previously reported.
2 # drilling in progress ** partial intercept, assays pending ^ updated intercept or ^^ previously reported.
3 # drilling in progress ** partial intercept, assays pending ^ updated intercept or ^^ previously reported.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/152402











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